NIFTY is likely to open neutral.
NIFTY short-term support is between 24700-24750 and resistance is between 25050-25100.
BANKNIFTY short-term support is between 55400-55500 and resistance is between 56400-56500.
Max pain for NIFTY has decreased to 24850.
Max pain for BANKNIFTY is same at the 56000.
You may look for a Long CALL/Short PUT on the drop.
At our short-term levels, directional trades may be tried.
Please note that this is not a recommendation. Please consult your financial advisor.
Disclosure:
Portfolio: ATUL, BANKBEES, CHOLAFIN, CONCOR, DMART, GOLDBEES, FINEORG, HCLTECH, HDFCBANK, ICICIBANK, JUNIORBEES, KPITTECH, LIQUIDBEES, MOM30IETF, NIFTYBEES, POLYMED, REDTAPE, SBIN, SILVERBEES, TIMKEN, etc.
We regularly trade weekly options.
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