Indian Market Outlook: July 05, 2023

 

NIFTY is likely to open neutral.

NIFTY short-term support is between 19150-19200 and resistance is between 19450-19500.

BANKNIFTY short-term support is between 44650-44700 and resistance is between 45600-45700.

Max pain for NIFTY is same at the 19300.

Max pain for BANKNIFTY has increased to 45200.

Max pain for USDINR is same at the 82.00.

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/markets/options-trade-a-non-directional-options-strategy-in-cipla-2-10905221.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.