Indian Market Outlook: February 20, 2023


NIFTY is likely to open neutral.

NIFTY short-term support is between 17800-17850 and resistance is between 18100-18150.

BANKNIFTY short-term support is between 40600-40700 and resistance is between 41500-41600.


Max pain for NIFTY is same at the 18000.

Max pain for BANKNIFTY has decreased to 41300.

Max pain for USDINR has decreased to 82.50.


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.



Upcoming Events:

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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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