Indian Market Outlook: May 08, 2023


NIFTY is likely to open neutral.

NIFTY short-term support is between 17940-17990 and resistance is between 18250-18300.


BANKNIFTY short-term support is between 42250-42350 and resistance is between 43250-43350.


Max pain for NIFTY has decreased to 18100.

Max pain for BANKNIFTY has decreased to 43000.

Max pain for USDINR is same at the 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.



Upcoming Events:

Workshop:


Prerequisite: 


More info:



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.


No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Pages