Indian Market Outlook: November 17, 2023

 

NIFTY is likely to open neutral.

NIFTY short-term support is between 19500-19550 and resistance is between 19850-19900.

BANKNIFTY short-term support is between 43800-43900 and resistance is between 44600-44700.

Max pain for NIFTY has increased to 19800.

Max pain for BANKNIFTY is same at the 44200.

Max pain for USDINR is same at the 83.25.

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):

Algo trading: Closed in RED

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-low-risk-non-directional-options-strategy-in-bank-nifty-3-11757801.html

Disclosure:

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

Current stock option trades open: None

We regularly trade weekly options.