Indian Market Outlook: December 18, 2024

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.

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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.

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