Indian Market Outlook: June 06, 2024


NIFTY is likely to open positive.

NIFTY short-term support is between 22200-22250 and resistance is between 22850-22900.

BANKNIFTY short-term support is between 48000-48100 and resistance is between 49700-49800.


Max pain for NIFTY has increased to 22450.

Max pain for BANKNIFTY has increased to 48900.

Max pain for USDINR is same at the 0.00.


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.



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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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