Indian Market Outlook: February 17, 2023

 

NIFTY is likely to open negative.

NIFTY short-term support is between 17800-17850 and resistance is between 18100-18150.

BANKNIFTY short-term support is between 41100-41200 and resistance is between 42020-42120.

Max pain for NIFTY is same at the 18000.

Max pain for BANKNIFTY has increased to 41700.

Max pain for USDINR is same at the 82.75.

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 GREEN.

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-state-bank-of-india-6-10102561.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.