Indian Market Outlook: March 28, 2023


NIFTY is likely to open neutral.

NIFTY short-term support is between 16840-16890 and resistance is between 17250-17300.


BANKNIFTY short-term support is between 39000-39100 and resistance is between 39800-39900.


Max pain for NIFTY is same at the 17100.

Max pain for BANKNIFTY has increased to 39500.

Max pain for USDINR is same at the 82.25.


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.







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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