Indian Market Outlook: August 06, 2021

 

NIFTY is likely to open neutral.

It is likely to remain between our short term levels.

NIFTY short term support is between 15990-16040 and resistance is between 16350-16400.

BANKNIFTY short term support is between 35140-35240 and resistance is between 36400-36500.

Max pain for NIFTY has increased to 16250.

Max pain for BANKNIFTY is same at 35800.

Max pain for USDINR is same at 74.25.

Can look for Long CALL/Short PUT on drop.

Last Trading Day's Highlights for us:

1. Weekly BANKNIFTY option strategy positional trades: None

2. Monthly Stock option strategy positional trades: Under control.

3. Monthly Stock Covered CALL positional trades: Under control.

4. Monthly NIFTY Covered CALL positional trades: Under control..

Algo Trading:

BANKNIFTY strategies trades: Closed in GREEN.

Today's Trading Plan (manual):

Add Stock option strategy positional trades.

Manage open positions.

Upcoming Events:

Live Trading Session (Online):

http://www.pasitechnologies.com/p/trading.html

Workshop (Mumbai):

http://www.pasitechnologies.com/p/training.html

Prerequisite: 

http://www.pasitechnologies.com/p/prerequisite.html

More info:

1. Moneycontrol Interview: 

https://www.moneycontrol.com/news/business/moneycontrol-research/a-part-time-trader-who-uses-time-and-risk-management-successfully-at-his-job-and-in-the-market-2774651.html

2. Elearnmarkets Face2Face Interview: 

https://www.youtube.com/watch?v=--Ku2hhFL1M

3. Interview: 

https://www.mainebolatha.in/2020/05/santosh-pasi-person-who-takes-option-trading-to-the-next-levels.html

Trade setup:

https://www.moneycontrol.com/news/business/markets/options-trade-an-earnings-based-non-directional-options-strategy-in-hindalco-industries-7285011.html