NIFTY is likely to open negative.
NIFTY short-term support is between 15670-15720 and resistance is between 15920-15970.
BANKNIFTY short-term support is between 33500-33600 and resistance is between 34120-34220.
Max pain for NIFTY has increased to 15850.
Max pain for BANKNIFTY has increased to 33800.
Max pain for USDINR is same at the 78.00.
Can look for Long PUT/Short CALL on the rally.
At our short-term levels, directional trades can be tried.
Disclosure:
Portfolio: NIFTYBeeS, LIQUIDBeeS, HCL TECH, HDFC BANK, ICICI BANK, SBI, etc.
Current stock option trades open: None
We regularly trade BANKNIFTY weekly option.
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