Indian Market Outlook: October 11, 2021

NIFTY is likely to open neutral.

It is likely to remain between our short term levels.

NIFTY short term support is between 17760-17810 and resistance is between 17950-18000.

BANKNIFTY short term support is between 37500-37600 and resistance is between 38090-38190.

Max pain for NIFTY is at 17850.

Max pain for BANKNIFTY is at 37800.

Max pain for USDINR is at 75.00.

Can look for Long PUT/Short CALL on rally.

Last Trading Day's Highlights for us:

Algo Trading:
BANKNIFTY strategies trades: Under control.

Discretionary Trading:
1. Monthly Stock option strategy positional trades: Under control.
2. Monthly Stock Covered CALL positional trades: Under control.
3. Monthly NIFTY Covered CALL positional trades: None.

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Trade setup:

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