Indian Market Outlook: February 04, 2025

NIFTY is likely to open positive.

NIFTY short-term support is between 23150-23200 and resistance is between 23600-23650.

BANKNIFTY short-term support is between 48800-48900 and resistance is between 49800-49900.

Max pain for NIFTY has decreased to 23400.

Max pain for BANKNIFTY has decreased to 49900.

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.

Current stock option trades open: None

We regularly trade weekly options.