NIFTY is likely to open neutral.
NIFTY short-term support is between 17250-17300 and resistance is between 17600-17650.
BANKNIFTY short-term support is between 40170-40270 and resistance is between 40900-41000.
Max pain for NIFTY is same at the 17450.
Max pain for BANKNIFTY has increased to 40600.
Max pain for USDINR is same at the 82.75.
Can look for Long CALL/Short PUT on the drop.
At our short-term levels, directional trades can be tried.
Disclosure:
Portfolio: NIFTYBeeS, LIQUIDBeeS, HCL TECH, HDFC BANK, ICICI BANK, SBI, etc.
Current stock option trades open: None
We regularly trade BANKNIFTY weekly option.
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