Indian Market Outlook: December 03, 2024

NIFTY is likely to open neutral.

NIFTY short-term support is between 23950-24000 and resistance is between 24400-24450.

BANKNIFTY short-term support is between 51400-51500 and resistance is between 52500-52600.

Max pain for NIFTY has increased to 24200.

Max pain for BANKNIFTY is same at the 52500.

Can look for Long CALL/Short PUT on the drop.

At our short-term levels, directional trades can be tried.

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Disclosure:

Portfolio: BANKBEES, CHOLAFIN, CONCOR, GODLBEES, HCLTECH,  HDFCBANK, ICICIBANK, JUNIORBEES, LIQUIDBEES, NIFTYBEES, POLYMED, SBIN, SILVERBEES, TIMKEN, etc.

Current stock option trades open: None

We regularly trade weekly options.