Indian Market Outlook: July 16, 2024


NIFTY is likely to open neutral.

NIFTY short-term support is between 24350-24400 and resistance is between 24700-24750.

BANKNIFTY short-term support is between 51900-52000 and resistance is between 53000-53100.


Max pain for NIFTY has increased to 24500.

Max pain for BANKNIFTY has increased to 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



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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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