Indian Market Outlook: April 11, 2023

NIFTY is likely to open neutral.

NIFTY short-term support is between 17450-17500 and resistance is between 17730-17780.

BANKNIFTY short-term support is between 40600-40700 and resistance is between 41400-41500.

Max pain for NIFTY is same at the 17600.

Max pain for BANKNIFTY has decreased to 40900.

Max pain for USDINR is same at the 82.00.

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:

Workshop:

http://www.pasitechnologies.com/p/trading.html

Prerequisite: 

http://www.pasitechnologies.com/p/prerequisite.html

More info:

https://www.pasitechnologies.com/p/trainer.html

Trade setup:

https://www.moneycontrol.com/news/business/markets/options-trade-an-earning-based-non-directional-options-strategy-in-tcs-2-10391951.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.