Indian Market Outlook: September 04, 2023

NIFTY is likely to open neutral.

NIFTY short-term support is between 19210-19260 and resistance is between 19550-19600.

BANKNIFTY short-term support is between 43800-43900 and resistance is between 44850-44950.

Max pain for NIFTY is same at the 19400.

Max pain for BANKNIFTY has increased to 44300.

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 Option 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/technicals/currency-options-a-low-risk-and-high-probability-options-strategy-in-currency-pair-usdinr-37-11300491.html

https://www.moneycontrol.com/news/business/technicals/options-trade-a-non-directional-options-strategy-in-bank-of-baroda-3-11300471.html

 

Disclosure:

Portfolio: NIFTYBeeS, LIQUIDBeeS, HCL TECH, HDFC BANK, ICICI BANK, SBI, etc.

Current stock option trades open: None

We regularly trade weekly options.