Indian Market Outlook: January 23, 2024

NIFTY is likely to open positive.

NIFTY short-term support is between 21400-21450 and resistance is between 21750-21800.

BANKNIFTY short-term support is between 45600-45700 and resistance is between 46600-46700.

Max pain for NIFTY has increased to 21600.

Max pain for BANKNIFTY is same at the 46200.

Max pain for USDINR has increased to 83.13.

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.

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/currency-options-a-low-risk-and-high-probability-options-strategy-in-currency-pair-usdinr-49-12104951.html

https://www.moneycontrol.com/news/business/markets/options-trade-an-earning-based-non-directional-options-strategy-in-kotak-mahindra-bank-2-12105091.html

Disclosure:

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

Current stock option trades open: None

We regularly trade weekly options.

__PRESENT__PRESENT__PRESENT__PRESENT__PRESENT__PRESENT__PRESENT