Indian Market Outlook: August 16, 2024

NIFTY is likely to open positive.

NIFTY short-term support is between 23950-24000 and resistance is between 24350-24400.

BANKNIFTY short-term support is between 49500-49600 and resistance is between 50300-50400.

Max pain for NIFTY is same at the 24200.

Max pain for BANKNIFTY has decreased to 50000.

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-non-directional-options-strategy-in-tata-motors-8-12797801.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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