NIFTY is likely to open negative.
NIFTY short-term support is between 24100-24150 and resistance is between 24550-24600.
BANKNIFTY short-term support is between 52200-52300 and resistance is between 53200-53300.
Max pain for NIFTY has decreased to 24450.
Max pain for BANKNIFTY has decreased to 53000.
We can look for a long PUT/short CALL at the rally.
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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