NIFTY is likely to open positive.
NIFTY short-term support is between 181300-18350 and resistance is between 18650-18700.
BANKNIFTY short-term support is between 43700-43800 and resistance is between 44500-44600.
Max pain for NIFTY has increased to 18400.
Max pain for BANKNIFTY has increased to 43900.
Max pain for USDINR has decreased to 82.50.
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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