Indian Market Outlook: January 18, 2023


NIFTY is likely to open positive.

NIFTY short-term support is between 17700-17750 and resistance is between 18120-18170.


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


Max pain for NIFTY has increased to 18000.

Max pain for BANKNIFTY is same at the 42200.

Max pain for USDINR has increased to 81.75.


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.


Upcoming Events:

Workshop:


Prerequisite: 


More info:


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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