Indian Market Outlook: September 03, 2024

NIFTY is likely to open neutral.

NIFTY short-term support is between 25100-25150 and resistance is between 25350-25400.

BANKNIFTY short-term support is between 51000-51100 and resistance is between 51700-51800.

Max pain for NIFTY is same at the 25200.

Max pain for BANKNIFTY has increased to 51400.

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.