Indian Market Outlook: January 31, 2025

NIFTY is likely to open positive.

NIFTY short-term support is between 23050-23100 and resistance is between 23400-23450.

BANKNIFTY short-term support is between 48900-49000 and resistance is between 49900-50000.

Max pain for NIFTY has increased to 23200.

Max pain for BANKNIFTY has increased to 50000.

Can look for Long PUT/Short CALL on 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, MOM30IETF, NIFTYBEES, POLYMED, SBIN, SILVERBEES, TIMKEN, etc.

We regularly trade weekly options.

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