Indian Market Outlook: August 05, 2024

NIFTY is likely to open negative.

NIFTY short-term support is between 24200-24250 and resistance is between 24750-24800.

BANKNIFTY short-term support is between 50100-50200 and resistance is between 51500-51600.

Max pain for NIFTY has decreased to 24750.

Max pain for BANKNIFTY has decreased to 51500.

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-ongc-12785987.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.

__PRESENT__PRESENT