Indian Market Outlook: July 09, 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 increased to 24300.

Max pain for BANKNIFTY is same at the 52500.

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: Ended in RED.

https://www.sonicalpha.com/p/algo.html

Upcoming Events:

Workshop:

http://www.pasitechnologies.com/p/trading.html

Prerequisite: 

http://www.pasitechnologies.com/p/prerequisite.html

More info:

https://www.pasitechnologies.com/p/trainer.html

Trade setup:

https://www.moneycontrol.com/news/business/markets/options-trade-a-strategy-to-benefit-from-sideways-movement-in-vedanta-2-12764836.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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