NIFTY is likely to open positive.
NIFTY short-term support is between 23400-23450 and resistance is between 23850-23900.
BANKNIFTY short-term support is between 51000-51100 and resistance is between 52000-52100.
Max pain for NIFTY has increased to 23550.
Max pain for BANKNIFTY has increased to 50600.
You may look for a Long CALL/Short PUT on the drop.
At our short-term levels, directional trades may be tried.
Please note that this is not a recommendation. Please consult your financial advisor.
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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