Indian Market Outlook: July 08, 2024


NIFTY is likely to open neutral.

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 decreased to 24250.

Max pain for BANKNIFTY has decreased to 52500.

Max pain for USDINR is same at the 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.



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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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