Indian Market Outlook: August 11, 2023


NIFTY is likely to open neutral.

NIFTY short-term support is between 19340-19390 and resistance is between 19700-19750.


BANKNIFTY short-term support is between 44250-44350 and resistance is between 45350-45450.


Max pain for NIFTY has decreased to 19550.

Max pain for BANKNIFTY has decreased to 44600.

Max pain for USDINR is same at the 82.75.


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 Option strategies trades: Ended in GREEN.



Upcoming Events:

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Disclosure:

Portfolio: NIFTYBeeS, LIQUIDBeeS, HCL TECH, HDFC BANK, ICICI BANK, SBI, etc.

Current stock option trades open: None

We regularly trade weekly options.




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