Indian Market Outlook: December 07, 2023

NIFTY is likely to open negative.

NIFTY short-term support is between 20650-20700 and resistance is between 20950-21000.

BANKNIFTY short-term support is between 46400-46500 and resistance is between 47400-47500.

Max pain for NIFTY has increased to 20850.

Max pain for BANKNIFTY has increased to 46800.

Max pain for USDINR is same at the 83.38.

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: 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-bajaj-finance-11-11866141.html

Disclosure:

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

Current stock option trades open: None

We regularly trade weekly options.