Indian Market Outlook: February 24, 2023

 

NIFTY is likely to open neutral.

NIFTY short-term support is between 17450-17500 and resistance is between 17720-17770.


BANKNIFTY short-term support is between 39500-39600 and resistance is between 40650-40750.


Max pain for NIFTY has decreased to 17600.

Max pain for BANKNIFTY has decreased to 40000.

Max pain for USDINR is same at the 82.50.


Can look for Long PUT/Short CALL on the rally.

At our short-term levels, directional trades can be tried.





Last Trading Day's Highlights for us (algo trading):
Weekly BANKNIFTY strategies trades: Closed in RED.




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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