Indian Market Outlook: August 30, 2023

 

NIFTY is likely to open neutral.

NIFTY short-term support is between 19150-19200 and resistance is between 19450-19500.


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


Max pain for NIFTY has increased to 19350.

Max pain for BANKNIFTY is same at the 44500.

Max pain for USDINR has increased to 82.75.


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 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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