Indian Market Outlook: December 07, 2022

NIFTY is likely to open negative.

NIFTY short-term support is between 18500-18550 and resistance is between 18820-18870.

BANKNIFTY short-term support is between 42730-42830 and resistance is between 43470-43570.

Max pain for NIFTY has decreased to 18650.

Max pain for BANKNIFTY is same at the 43200.

Max pain for USDINR has increased to 82.00.

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/options-trade-a-non-directional-options-strategy-in-bharat-petroleum-corporation-9661051.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.