Indian Market Outlook: July 04, 2024


NIFTY is likely to open positive.

NIFTY short-term support is between 24100-24150 and resistance is between 24450-24500.

BANKNIFTY short-term support is between 52100-52200 and resistance is between 53400-53500.


Max pain for NIFTY has increased to 24200.

Max pain for BANKNIFTY has increased to 53000.

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.




Upcoming Events:

Workshop:


Prerequisite: 


More info:



Trade setup:
https://www.moneycontrol.com/news/business/markets/options-trade-a-strategy-to-benefit-from-sideways-movement-in-icici-bank-12761829.html


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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