Indian Market Outlook: July 02, 2024

NIFTY is likely to open neutral.

NIFTY short-term support is between 23900-23950 and resistance is between 24250-24300.

BANKNIFTY short-term support is between 52000-52100 and resistance is between 53200-53300.

Max pain for NIFTY has increased to 24050.

Max pain for BANKNIFTY is same at the 52500.

Max pain for USDINR is same at the 0.00.

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-strategy-to-benefit-from-sideways-movement-in-ongc-12760098.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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