NIFTY is likely to open neutral.
NIFTY short-term support is between 21050-21100 and resistance is between 21500-21550.
BANKNIFTY short-term support is between 47300-47400 and resistance is between 48400-48500.
Max pain for NIFTY has increased to 21300.
Max pain for BANKNIFTY has decreased to 47500.
Max pain for USDINR is the same at 83.25.
Can look for Long PUT/Short CALL on the rally.
At our short-term levels, directional trades can be tried.
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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