Indian Market Outlook: July 06, 2022

NIFTY is likely to open neutral.

NIFTY short-term support is between 15620-15670 and resistance is between 15980-16030.

BANKNIFTY short-term support is between 33350-33450 and resistance is between 34280-34380.

Max pain for NIFTY is same at the 15800.

Max pain for BANKNIFTY has increased to 33900.

Max pain for USDINR is same at the 79.00.

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/options-trade-a-non-directional-options-strategy-in-dr-reddys-laboratories-3-8784561.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.