Indian Market Outlook: June 15, 2023

NIFTY is likely to open neutral.

NIFTY short-term support is between 18570-18620 and resistance is between 18800-18850.

BANKNIFTY short-term support is between 43700-43800 and resistance is between 44500-44600.

Max pain for NIFTY is same at the 18700.

Max pain for BANKNIFTY is same at the 44000.

Max pain for USDINR has decreased to 82.25.

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.

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/options-trade-a-non-directional-options-strategy-in-tata-chemicals-5-10798981.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.