Indian Market Outlook: October 17, 2022

 

NIFTY is likely to open negative.

NIFTY short-term support is between 16850-16900 and resistance is between 17440-17490.


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


Max pain for NIFTY has increased to 17200.

Max pain for BANKNIFTY has increased to 39300.

Max pain for USDINR is same at the 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.


Upcoming Events:

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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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