Indian Market Outlook: January 30, 2023

 

NIFTY is likely to open neutral.

NIFTY short-term support is between 17450-17500 and resistance is between 17900-17950.

BANKNIFTY short-term support is between 40000-40100 and resistance is between 41500-41600.

Max pain for NIFTY has decreased to 17800.

Max pain for BANKNIFTY has decreased to 41100.

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/currency-options-a-wide-range-and-high-probability-options-strategy-in-currency-pair-usdinr-9959371.html

https://www.moneycontrol.com/news/business/markets/options-trade-an-earning-based-non-directional-options-strategy-in-punjab-national-bank-9959321.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.