Indian Market Outlook: March 10, 2023

NIFTY is likely to open negative.

NIFTY short-term support is between 17290-17340 and resistance is between 17580-17630.

BANKNIFTY short-term support is between 40500-40600 and resistance is between 41200-41300.

Max pain for NIFTY has decreased to 17650.

Max pain for BANKNIFTY is same at the 41300.

Max pain for USDINR is same at the 82.00.

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: Closed week in GREEN.

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-a-non-directional-options-strategy-in-apollo-tyres-10225811.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.