NIFTY is likely to open positive.
NIFTY short-term support is between 17400-17450 and resistance is between 17900-17950.
BANKNIFTY short-term support is between 39400-39500 and resistance is between 41500-41600.
Max pain for NIFTY has decreased to 17750.
Max pain for BANKNIFTY has decreased to 41000.
Max pain for USDINR is same at the 81.50.
Can look for Long PUT/Short CALL on the rally.
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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