Indian Market Outlook: October 27, 2022

NIFTY is likely to open positive.

NIFTY short-term support is between 17630-17680 and resistance is between 17950-18000.

BANKNIFTY short-term support is between 41000-41100 and resistance is between 41760-41860.

Max pain for NIFTY is same at the 17600.

Max pain for BANKNIFTY is same at the 41000.

Max pain for USDINR has increased to 82.25.

Most likely there will be some profit booking initially. 

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: 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-tata-chemicals-3-9395671.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.