Indian Market Outlook: January 17, 2023

NIFTY is likely to open neutral.

NIFTY short-term support is between 17700-17750 and resistance is between 18060-18110.

BANKNIFTY short-term support is between 41550-41650 and resistance is between 42850-42950.

Max pain for NIFTY is same at the 17900.

Max pain for BANKNIFTY is same at the 42200.

Max pain for USDINR is same at the 81.50.

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):

Weekly BANKNIFTY strategies trades: Under control.

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-an-earning-based-non-directional-options-strategy-in-indusind-bank-9878291.html

Disclosure:

Portfolio: NIFTYBeeS, LIQUIDBeeS, HCL TECH, HDFC BANK, ICICI BANK, SBI, etc.

Current stock option trades open: None

We regularly trade BANKNIFTY weekly option.