Indian Market Outlook: May 06, 2024

NIFTY is likely to open positive.

NIFTY short-term support is between 22350-22400 and resistance is between 22750-22800.

BANKNIFTY short-term support is between 48600-48700 and resistance is between 49600-49700.

Max pain for NIFTY has decreased to 22500.

Max pain for BANKNIFTY has decreased to 49100.

Max pain for USDINR has decreased to 0.00.

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-earning-based-non-directional-options-strategy-in-lupin-2-12715022.html

Disclosure:

Portfolio: NIFTYBeeS, LIQUIDBeeS, HCL TECH, HDFC BANK, ICICI BANK, SBI, CONCOR, etc.

Current stock option trades open: None

We regularly trade weekly options.

__PRESENT__PRESENT