Indian Market Outlook: August 22, 2022

 

NIFTY is likely to open negative.

NIFTY short-term support is between 17600-17650 and resistance is between 17850-17900.

BANKNIFTY short-term support is between 38640-38740 and resistance is between 39200-39300.

Max pain for NIFTY has decreased to 17750.

Max pain for BANKNIFTY has decreased to 39000.

Max pain for USDINR is same at the 79.50.

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-low-risk-and-high-probability-options-strategy-in-usd-inr-4-9062221.html

https://www.moneycontrol.com/news/business/options-trade-a-non-directional-options-strategy-in-ongc-3-9064191.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.