Indian Market Outlook: February 16, 2024


NIFTY is likely to open positive.

NIFTY short-term support is between 21700-21750 and resistance is between 22100-22150.


BANKNIFTY short-term support is between 45600-45700 and resistance is between 46700-46800.


Max pain for NIFTY has increased to 21900.

Max pain for BANKNIFTY has increased to 46000.

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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