NIFTY is likely to open positive.
NIFTY short-term support is between 22350-22400 and resistance is between 22900-22950.
BANKNIFTY short-term support is between 50200-50300 and resistance is between 51500-51600.
Max pain for NIFTY has decreased to 22500.
Max pain for BANKNIFTY has decreased to 50700.
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: ATUL, BANKBEES, CHOLAFIN, CONCOR, DMART, GOLDBEES, FINEORG, HCLTECH, HDFCBANK, ICICIBANK, JUNIORBEES, KPITTECH, LIQUIDBEES, MOM30IETF, NIFTYBEES, POLYMED, REDTAPE, SBIN, SILVERBEES, TIMKEN, etc.
We regularly trade weekly options.
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