Indian Market Outlook: June 18, 2024

NIFTY is likely to open neutral.

NIFTY short-term support is between 23200-23250 and resistance is between 23550-23600.

BANKNIFTY short-term support is between 49500-49600 and resistance is between 50500-50600.

Max pain for NIFTY is same at the 23400.

Max pain for BANKNIFTY has increased to 50000.

Max pain for USDINR is same at the 0.00.

Can look for Long PUT/Short CALL on the rally.

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-strategy-to-benefit-from-sideways-movement-in-power-grid-corporation-of-india-12750510.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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