Indian Market Outlook: July 31, 2024

NIFTY is likely to open neutral.

NIFTY short-term support is between 24600-24650 and resistance is between 25000-25050.

BANKNIFTY short-term support is between 50800-50900 and resistance is between 52300-52400.

Max pain for NIFTY is same at the 24800.

Max pain for BANKNIFTY is same at the 51500.

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-an-earning-based-non-directional-options-strategy-in-bharat-heavy-electricals-12782697.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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