Indian Market Outlook: January 01, 2025

NIFTY is likely to open neutral.

NIFTY short-term support is between 23400-23450 and resistance is between 23750-23800.

BANKNIFTY short-term support is between 50300-50400 and resistance is between 51300-51400.

Max pain for NIFTY has decreased to 23700.

Max pain for BANKNIFTY has decreased to 51800.

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.