Indian Market Outlook: April 21, 2023


NIFTY is likely to open neutral.

NIFTY short-term support is between 17500-17550 and resistance is between 17800-17850.


BANKNIFTY short-term support is between 41700-41800 and resistance is between 42650-42750.


Max pain for NIFTY is same at the 17650.

Max pain for BANKNIFTY is same at the 42100.

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: Closed in GREEN.





Trade setup:




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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