Indian Market Outlook: April 17, 2023

NIFTY is likely to open negative.

NIFTY short-term support is between 17650-17700 and resistance is between 17900-17950.

BANKNIFTY short-term support is between 41500-41600 and resistance is between 42650-42750.

Max pain for NIFTY has increased to 17800.

Max pain for BANKNIFTY has increased to 41900.

Max pain for USDINR is same at the 82.00.

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: Closed in RED.

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/currency-options-a-low-risk-and-high-probability-options-strategy-in-currency-pair-usdinr-21-10410941.html

https://www.moneycontrol.com/news/business/markets/options-trade-a-non-directional-options-strategy-in-tech-mahindra-4-10410801.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.