Indian Market Outlook: September 02, 2022

NIFTY is likely to open negative.

NIFTY short-term support is between 17360-17410 and resistance is between 17730-17780.

BANKNIFTY short-term support is between 38690-38790 and resistance is between 39670-39770.

Max pain for NIFTY has decreased to 17600.

Max pain for BANKNIFTY is same at the 39300.

Max pain for USDINR has decreased to 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-ntpc-3-9119611.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.