Indian Market Outlook: October 16, 2024

NIFTY is likely to open negative.

NIFTY short-term support is between 24800-24850 and resistance is between 25200-25250.

BANKNIFTY short-term support is between 51200-51300 and resistance is between 52300-52400.

Max pain for NIFTY has decreased to 25050.

Max pain for BANKNIFTY has increased to 51800.

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.

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http://www.pasitechnologies.com/p/trading.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.