Indian Market Outlook: April 22, 2024

NIFTY is likely to open positive.

NIFTY short-term support is between 22000-22050 and resistance is between 22350-22400.

BANKNIFTY short-term support is between 47100-47200 and resistance is between 48000-48100.

Max pain for NIFTY is same at the 22200.

Max pain for BANKNIFTY is same at the 47500.

Max pain for USDINR has decreased to 83.25.

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-earning-based-non-directional-options-strategy-in-reliance-industries-4-12688161.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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