NIFTY is likely to open neutral.
NIFTY short-term support is between 15850-15900 and resistance is between 16110-16160.
BANKNIFTY short-term support is between 34500-34600 and resistance is between 35230-35330.
Max pain for NIFTY has decreased to 16000.
Max pain for BANKNIFTY has decreased to 35000.
Max pain for USDINR is same at the 79.50.
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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