Indian Market Outlook: August 26, 2022

NIFTY is likely to open positive.

NIFTY short-term support is between 17400-17450 and resistance is between 17780-17830.

BANKNIFTY short-term support is between 38600-38700 and resistance is between 39400-39500.

Max pain for NIFTY is same at the 17600.

Max pain for BANKNIFTY is same at the 39000.

Max pain for USDINR is same at the 79.75.

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: Closed in RED.

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:

https://www.moneycontrol.com/news/business/markets/options-trade-a-non-directional-options-strategy-in-sun-pharma-9088311.html

Disclosure:

Portfolio: NIFTYBeeS, LIQUIDBeeS, HCL TECH, HDFC BANK, ICICI BANK, SBI, etc.

Current stock option trades open: None

We regularly trade BANKNIFTY weekly option.