Indian Market Outlook: July 12, 2022

NIFTY is likely to open negative.

NIFTY short-term support is between 15990-16040 and resistance is between 16250-16300.

BANKNIFTY short-term support is between 34830-34930 and resistance is between 35460-35560.

Max pain for NIFTY is the same at 16200.

Max pain for BANKNIFTY has increased to 35300.

Max pain for USDINR is same at the 79.25.

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-an-earnings-based-non-directional-options-strategy-in-hcl-technologies-4-8812411.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.