NIFTY is likely to open negative.
NIFTY short-term support is between 17300-17350 and resistance is between 17730-17780.
BANKNIFTY short-term support is between 38280-38380 and resistance is between 39530-39630.
Max pain for NIFTY has increased to 17650.
Max pain for BANKNIFTY has increased to 39300.
Max pain for USDINR has decreased to 79.75.
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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