Indian Market Outlook: April 03, 2023


NIFTY is likely to open neutral.

NIFTY short-term support is between 17220-17270 and resistance is between 17550-17600.


BANKNIFTY short-term support is between 40340-40440 and resistance is between 40450-40550.


Max pain for NIFTY has increased to 17350.

Max pain for BANKNIFTY has increased to 40500.

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.



Upcoming Events:

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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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