Indian Market Outlook: May 28, 2024

NIFTY is likely to open neutral.

NIFTY short-term support is between 22800-22850 and resistance is between 23100-23150.

BANKNIFTY short-term support is between 48600-48700 and resistance is between 49700-49800.

Max pain for NIFTY is same at the 22900.

Max pain for BANKNIFTY has increased to 49100.

Max pain for USDINR is same at the 83.00.

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):

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-a-high-probability-and-wide-range-option-trade-in-tata-steel-ahead-of-its-result-12733795.html

Disclosure:

Portfolio: CHOLAFIN, CONCOR, HCLTECH,  HDFCBANK, ICICIBANK, LIQUIDBEES, NIFTYBEES, POLYMED, SBIN, TIMKEN, etc.

Current stock option trades open: None

We regularly trade weekly options.

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