Indian Market Outlook: August 18, 2023

 

NIFTY is likely to open neutral.

NIFTY short-term support is between 19250-19300 and resistance is between 19550-19600.

BANKNIFTY short-term support is between 43400-43500 and resistance is between 44400-44500.

Max pain for NIFTY is same at the 19400.

Max pain for BANKNIFTY is same at the 44000.

Max pain for USDINR is same at the 83.00.

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 Option 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-power-grid-2-11212781.html

Disclosure:

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

Current stock option trades open: None

We regularly trade weekly options.