Indian Market Outlook: October 17, 2023

NIFTY is likely to open neutral.

NIFTY short-term support is between 19600-19650 and resistance is between 19900-19950.

BANKNIFTY short-term support is between 43900-44000 and resistance is between 44800-44900.

Max pain for NIFTY is same at the 19750.

Max pain for BANKNIFTY has decreased to 44300.

Max pain for USDINR is same at the 83.25.

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):

Algo trading: 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/markets/options-trade-an-earning-based-non-directional-options-strategy-in-wipro-4-11543831.html

Disclosure:

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

Current stock option trades open: None

We regularly trade weekly options.