Indian Market Outlook: June 26, 2023

NIFTY is likely to open neutral.

NIFTY short-term support is between 18550-18600 and resistance is between 18820-18870.

BANKNIFTY short-term support is between 43220-43320 and resistance is between 44100-44200.

Max pain for NIFTY has decreased to 18700.

Max pain for BANKNIFTY is same at the 43700.

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: 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/markets/options-trade-a-non-directional-options-strategy-in-state-bank-of-india-8-10849461.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.