Indian Market Outlook: February 21, 2024

NIFTY is likely to open neutral.

NIFTY short-term support is between 22000-22050 and resistance is between 22250-22300.

BANKNIFTY short-term support is between 46300-46400 and resistance is between 47300-47400.

Max pain for NIFTY has increased to 22100.

Max pain for BANKNIFTY has increased to 46900.

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.

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-an-event-based-non-directional-options-strategy-in-nifty-4-12316611.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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