Indian Market Outlook: June 09, 2022

NIFTY is likely to open negative.

NIFTY short-term support is between 16210-16260 and resistance is between 16480-16530.

BANKNIFTY short-term support is between 34450-34550 and resistance is between 35360-35460.

Max pain for NIFTY has decreased to 16400.

Max pain for BANKNIFTY is same at the 35000.

Max pain for USDINR has increased to 77.75.

Can look for Long PUT/Short CALL on the rally.

At our short-term levels, directional trades can be tried.

Last Trading Day's Highlights for us (algo trading):

Weekly BANKNIFTY strategies trades: Under control.

https://www.sonicalpha.com/p/algo.html

Upcoming Events:

Workshop:

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

Prerequisite: 

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

More info:

https://www.pasitechnologies.com/p/trainer.html

Trade setup:

https://www.moneycontrol.com/news/business/markets/currency-options-a-non-directional-options-strategy-in-usd-inr-8661311.html

https://www.moneycontrol.com/news/business/markets/options-trade-a-non-directional-options-strategy-in-vedanta-3-8661321.html

Disclosure:

Portfolio: NIFTYBeeS, LIQUIDBeeS, HCL TECH, HDFC BANK, ICICI BANK, SBI, etc.

Current stock option trades open: None

We regularly trade BANKNIFTY weekly option.