Indian Market Outlook: October 20, 2021

NIFTY is likely to open neutral.

It is likely to remain between our short term levels.

NIFTY short term support is between 18300-18350 and resistance is between 18600-18650.

BANKNIFTY short term support is between 39270-39370 and resistance is between 40000-40100.

Max pain for NIFTY is same at 18450.

Max pain for BANKNIFTY is same at 39600.

Max pain for USDINR is same at 75.25.

Can look for Long CALL/Short PUT near short term support levels.

Last Trading Day's Highlights for us:

Algo Trading:
Weekly BANKNIFTY strategies trades: Under control.

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

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