Indian Market Outlook: February 27, 2023


NIFTY is likely to open neutral.

NIFTY short-term support is between 17300-17350 and resistance is between 17600-17650.


BANKNIFTY short-term support is between 39300-39400 and resistance is between 40300-40400.


Max pain for NIFTY has decreased to 17550.

Max pain for BANKNIFTY is same at the 40000.

Max pain for USDINR has increased to 82.75.


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.



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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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