Indian Market Outlook: July 11, 2023

NIFTY is likely to open neutral.

NIFTY short-term support is between 19170-19220 and resistance is between 19500-19550.

BANKNIFTY short-term support is between 44550-44650 and resistance is between 45500-45600.

Max pain for NIFTY is same at the 19400.

Max pain for BANKNIFTY has decreased to 44900.

Max pain for USDINR is same at the 82.50.

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/options-trade-an-earning-based-non-directional-options-strategy-in-hcl-technologies-2-10935641.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.