NIFTY is likely to open positive (Gap UP).
NIFTY short-term support is between 18000-18050 and resistance is between 18370-18420.
BANKNIFTY short-term support is between 41530-41630 and resistance is between 42400-42500.
Max pain for NIFTY has decreased to 18000.
Max pain for BANKNIFTY has decreased to 41500.
Max pain for USDINR is same at the 82.00.
Can look for Long CALL/Short PUT on the drop.
At our short-term levels, directional trades can be tried.
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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