NIFTY is likely to open negative.
NIFTY short-term support is between 24300-24350 and resistance is between 24800-24850.
BANKNIFTY short-term support is between 52700-52800 and resistance is between 53800-53900.
Max pain for NIFTY is same at the 24600.
Max pain for BANKNIFTY is same at the 53300.
Can look for Long CALL/Short PUT on the drop.
At our short-term levels, directional trades can be tried.
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.
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