Indian Market Outlook: October 21, 2022

 

NIFTY is likely to open positive.

NIFTY short-term support is between 17330-17380 and resistance is between 17680-17730.

BANKNIFTY short-term support is between 39700-39800 and resistance is between 40600-40700.

Max pain for NIFTY has decreased to 17450.

Max pain for BANKNIFTY has decreased to 40000.

Max pain for USDINR is same at the 82.75.

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: 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/opinion/options-trade-an-earnings-based-non-directional-options-strategy-in-reliance-industries-5-9367461.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.