NIFTY is likely to open positive.
NIFTY short-term support is between 17300-17350 and resistance is between 17550-17600.
BANKNIFTY short-term support is between 40500-40600 and resistance is between 41400-41500.
Max pain for NIFTY has increased to 17400.
Max pain for BANKNIFTY has increased to 40700.
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.
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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