NIFTY is likely to open positive.
NIFTY short-term support is between 16850-16900 and resistance is between 17320-17370.
BANKNIFTY short-term support is between 38350-38450 and resistance is between 39790-39890.
Max pain for NIFTY has decreased to 17000.
Max pain for BANKNIFTY has decreased to 38800.
Max pain for USDINR has increased to 82.50.
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 breakeven.
Upcoming Events:
Workshop:
Prerequisite:
More info:
Trade setup:
https://www.moneycontrol.com/news/business/markets/options-trade-an-earnings-based-non-directional-options-strategy-in-federal-bank-9325001.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.
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