Indian Market Outlook: December 09, 2022


NIFTY is likely to open positive.

NIFTY short-term support is between 18450-18500 and resistance is between 18770-18820.


BANKNIFTY short-term support is between 42730-42830 and resistance is between 43800-43900.


Max pain for NIFTY is same at the 18600.

Max pain for BANKNIFTY has increased to 43500.

Max pain for USDINR has increased to 82.25.


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: Closed in RED.




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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