Indian Market Outlook: February 02, 2024

NIFTY is likely to open positive.

NIFTY short-term support is between 21450-21500 and resistance is between 21950-22000.

BANKNIFTY short-term support is between 45500-45600 and resistance is between 46900-47000.

Max pain for NIFTY has increased to 21700.

Max pain for BANKNIFTY is same at the 46000.

Max pain for USDINR is same at the 83.13.

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-earnings-based-non-directional-options-strategy-setup-in-tata-motors-12177161.html

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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