Indian Market Outlook: March 02, 2023

 

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.


Last Trading Day's Highlights for us (algo trading):
Weekly BANKNIFTY strategies trades: Under control.



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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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