NIFTY is likely to open neutral.
NIFTY short-term support is between 24950-25000 and resistance is between 25450-25500.
BANKNIFTY short-term support is between 51200-51300 and resistance is between 52000-52100.
Max pain for NIFTY has increased to 25200.
Max pain for BANKNIFTY has increased to 51500.
Can look for Long CALL/Short PUT on the drop.
At our short-term levels, directional trades can be tried.
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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