Indian Market Outlook: August 08, 2022


NIFTY is likely to open negative.
NIFTY short-term support is between 17010-17060 and resistance is between 17480-17530.

BANKNIFTY short-term support is between 37210-37310 and resistance is between 38210-38310.

Max pain for NIFTY has increased to 17400.
Max pain for BANKNIFTY has increased to 37900.
Max pain for USDINR is same at the 79.25.

Can look for Long CALL/Short PUT on the drop.
At our short-term levels, directional trades can be tried.


Last Trading Day's Highlights for us (algo trading):

Weekly BANKNIFTY strategies trades: Under control.

https://www.sonicalpha.com/p/algo.html


Upcoming Events:


Workshop:

http://www.pasitechnologies.com/p/trading.html



Prerequisite: 

http://www.pasitechnologies.com/p/prerequisite.html



More info:

https://www.pasitechnologies.com/p/trainer.html




Trade setup:



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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