Indian Market Outlook: April 24, 2024

NIFTY is likely to open positive.

NIFTY short-term support is between 22200-22250 and resistance is between 22500-22550.

BANKNIFTY short-term support is between 47500-47600 and resistance is between 48400-48500.

Max pain for NIFTY is same at the 22300.

Max pain for BANKNIFTY has increased to 47900.

Max pain for USDINR is same at the 83.25.

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-an-earnings-based-non-directional-options-strategy-in-acc-2-12706679.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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