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.
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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