Indian Market Outlook: January 24, 2023

NIFTY is likely to open positive.

NIFTY short-term support is between 17880-17930 and resistance is between 18220-18270.

BANKNIFTY short-term support is between 42200-42300 and resistance is between 43220-43320.

Max pain for NIFTY is same at the 18100.

Max pain for BANKNIFTY has increased to 42800.

Max pain for USDINR is same at the 81.50.

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.

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/markets/options-trade-an-earning-based-non-directional-options-strategy-in-tata-motors-9923531.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.