Indian Market Outlook: October 11, 2022

NIFTY is likely to open negative.

NIFTY short-term support is between 17040-17090 and resistance is between 17430-17480.

BANKNIFTY short-term support is between 38350-38450 and resistance is between 39790-39890.

Max pain for NIFTY has decreased to 17200.

Max pain for BANKNIFTY is same at the 39000.

Max pain for USDINR has increased to 82.50.

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.

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-an-earnings-based-non-directional-options-strategy-in-hcl-technologies-5-9306831.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.