Indian Market Outlook: January 19, 2024


NIFTY is likely to open positive.

NIFTY short-term support is between 21300-21350 and resistance is between 21650-21700.


BANKNIFTY short-term support is between 45400-45500 and resistance is between 46400-46500.


Max pain for NIFTY has decreased to 21500.

Max pain for BANKNIFTY has decreased to 46200.

Max pain for USDINR is same at the 83.00.


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):
Algo trading: 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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