Indian Market Outlook: April 27, 2023

 

NIFTY is likely to open neutral.

NIFTY short-term support is between 17600-17650 and resistance is between 17900-17950.


BANKNIFTY short-term support is between 42100-42200 and resistance is between 43000-43100.


Max pain for NIFTY has increased to 17750.

Max pain for BANKNIFTY has increased to 42700.

Max pain for USDINR has decreased to 81.75.


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.








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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