Indian Market Outlook: February 28, 2023

 

NIFTY is likely to open neutral.

NIFTY short-term support is between 17250-17300 and resistance is between 17600-17650.

BANKNIFTY short-term support is between 39600-39700 and resistance is between 40700-40800.

Max pain for NIFTY has decreased to 17450.

Max pain for BANKNIFTY has increased to 40200.

Max pain for USDINR is same at the 82.75.

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: Under control.

https://www.sonicalpha.com/p/algo.html

Upcoming Events:

www.tradersmela.com

Trade setup:

https://www.moneycontrol.com/news/business/markets/options-trade-a-non-directional-options-strategy-in-ambuja-cements-4-10171231.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.