Indian Market Outlook: November 03, 2026

NIFTY is likely to open positive.

NIFTY short-term support is between 23200-23250 and resistance is between 23550-23600.

BANKNIFTY short-term support is between 54500-54600 and resistance is between 55500-55600.

Max pain for NIFTY has increased to 23250.

Max pain for BANKNIFTY is same at the 55500.

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.

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Disclosure:

Portfolio: ALPHA, ASTRAL, ATUL, BANKBEES, CERA, CHOLAFIN, CONCOR, DMART, GOLDBEES, FINEORG, FINPIPE, HCLTECH,  HDFCBANK, ICICIBANK, JUNIORBEES, KPITTECH, LIQUIDBEES, MOM30IETF, NIFTYBEES, POLYMED, REDTAPE, RHIM, SBIN, SILVERBEES, TIMKEN, etc.

We regularly trade weekly options.