Indian Market Outlook: April 08, 2024

NIFTY is likely to open neutral.

NIFTY short-term support is between 22350-22400 and resistance is between 22660-22700.

BANKNIFTY short-term support is between 48000-48100 and resistance is between 48700-48800.

Max pain for NIFTY is same at the 22500.

Max pain for BANKNIFTY has increased to 48200.

Max pain for USDINR has increased to 83.38.

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-a-non-directional-options-strategy-setup-in-bharat-petroleum-corporation-12593541.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