Indian Market Outlook: August 11, 2022

 

NIFTY is likely to open positive.

NIFTY short-term support is between 17500-17550 and resistance is between 17750-17800.

BANKNIFTY short-term support is between 38150-38250 and resistance is between 38800-38900.

Max pain for NIFTY is same at the 17500.

Max pain for BANKNIFTY has increased to 38200.

Max pain for USDINR is same at the 79.50.

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

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-low-risk-high-probability-options-strategy-in-currency-pair-usdinr-4-9003011.html

https://www.moneycontrol.com/news/business/markets/currency-options-a-low-risk-high-probability-options-strategy-in-currency-pair-usdinr-4-9003011.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.