NIFTY is likely to open negative.
NIFTY short-term support is between 22800-22850 and resistance is between 23100-23150.
BANKNIFTY short-term support is between 48600-48700 and resistance is between 49600-49700.
Max pain for NIFTY is same at the 22900.
Max pain for BANKNIFTY is same at the 49100.
Max pain for USDINR is same at the 83.00.
Can look for Long CALL/Short PUT on the drop.
At our short-term levels, directional trades can be tried.
Disclosure:
Portfolio: CHOLAFIN, CONCOR, HCLTECH, HDFCBANK, ICICIBANK, LIQUIDBEES, NIFTYBEES, POLYMED, SBIN, TIMKEN, etc.
Current stock option trades open: None
We regularly trade weekly options.
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