Indian Market Outlook: June 07, 2024


NIFTY is likely to open neutral.

NIFTY short-term support is between 22450-22500 and resistance is between 22950-23000.

BANKNIFTY short-term support is between 48400-48500 and resistance is between 49700-49800.


Max pain for NIFTY has increased to 22800.

Max pain for BANKNIFTY has increased to 49100.

Max pain for USDINR has increased 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.



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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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