Indian Market Outlook: October 04, 2022


NIFTY is likely to open positive.

NIFTY short-term support is between 16730-16780 and resistance is between 17160-17210.


BANKNIFTY short-term support is between 37000-37100 and resistance is between 39150-39250.


Max pain for NIFTY has decreased to 17000.

Max pain for BANKNIFTY has decreased to 38100.

Max pain for USDINR has increased to 81.75.


Can look for Long PUT/Short CALL on the rally.

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.






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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