Indian Market Outlook: July 06, 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 has increased to 19350.

Max pain for BANKNIFTY has decreased to 45100.

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.





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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