Indian Market Outlook: July 17, 2023

NIFTY is likely to open neutral.

NIFTY short-term support is between 19330-19380 and resistance is between 19650-19700.

BANKNIFTY short-term support is between 44350-44450 and resistance is between 45300-45400.

Max pain for NIFTY is same at the 19500.

Max pain for BANKNIFTY is same at the 44800.

Max pain for USDINR is same at the 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/markets/currency-options-a-low-risk-and-high-probability-options-strategy-in-currency-pair-usdinr-31-10963411.html

https://www.moneycontrol.com/news/business/markets/options-trade-an-earning-based-non-directional-options-strategy-in-ltimindtree-10963391.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.