Indian Market Outlook: January 11, 2023


NIFTY is likely to open neutral.

NIFTY short-term support is between 17750-17800 and resistance is between 18300-18350.


BANKNIFTY short-term support is between 41550-41650 and resistance is between 42850-42950.


Max pain for NIFTY has decreased to 17950.

Max pain for BANKNIFTY has decreased to 42200.

Max pain for USDINR has decreased 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: Under control.


Upcoming Events:

Workshop:


Prerequisite: 


More info:


Trade setup:
https://www.moneycontrol.com/news/business/markets/options-trade-an-earnings-based-non-directional-options-strategy-in-hcl-technologies-6-9843811.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.



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