Indian Market Outlook: August 25, 2023

 

NIFTY is likely to open neutral.

NIFTY short-term support is between 19290-19340 and resistance is between 19550-19600.


BANKNIFTY short-term support is between 43900-44000 and resistance is between 44900-45000.


Max pain for NIFTY has increased to 19450.

Max pain for BANKNIFTY has increased to 44500.

Max pain for USDINR has decreased to 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: Under control.



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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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