Indian Market Outlook: August 04, 2023


NIFTY is likely to open neutral.

NIFTY short-term support is between 19290-19340 and resistance is between 19700-19750.


BANKNIFTY short-term support is between 44270-44370 and resistance is between 45550-45650.


Max pain for NIFTY has decreased to 19400.

Max pain for BANKNIFTY has decreased to 44600.

Max pain for USDINR is same at the 82.50.


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.


Upcoming Events:

Workshop:


Prerequisite: 


More info:


Trade setup:


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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