Indian Market Outlook: July 07, 2023

NIFTY is likely to open neutral.

NIFTY short-term support is between 19220-19270 and resistance is between 19550-19600.

BANKNIFTY short-term support is between 44650-44700 and resistance is between 45600-45700.

Max pain for NIFTY has increased to 19450.

Max pain for BANKNIFTY has increased to 45200.

Max pain for USDINR has increased to 82.25.

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 a small loss.

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/technicals/options-trade-a-non-directional-options-strategy-in-bharat-heavy-electricals-4-10918571.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.