NIFTY is likely to open negative.
NIFTY short-term support is between 22900-22950 and resistance is between 23400-23450.
BANKNIFTY short-term support is between 50400-50500 and resistance is between 51400-51500.
Max pain for NIFTY has increased to 23250.
Max pain for BANKNIFTY has increased to 51500.
You may look for a Long PUT/Short CALL on the rally.
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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