Indian Market Outlook: August 19, 2022

NIFTY is likely to open negative.

NIFTY short-term support is between 17780-17830 and resistance is between 17970-18020.

BANKNIFTY short-term support is between 39110-39210 and resistance is between 39700-39800.

Max pain for NIFTY has decreased to 17800.

Max pain for BANKNIFTY is same at the 39300.

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: Closed in RED.

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-gail-india-9052931.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.