Indian Market Outlook: August 29, 2023

NIFTY is likely to open neutral.

NIFTY short-term support is between 19150-19200 and resistance is between 19450-19500.

BANKNIFTY short-term support is between 43900-44000 and resistance is between 44900-45000.

Max pain for NIFTY is same at the 19300.

Max pain for BANKNIFTY has increased to 44500.

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 Option 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-a-non-directional-options-strategy-in-state-bank-of-india-9-11273861.html

Disclosure:

Portfolio: NIFTYBeeS, LIQUIDBeeS, HCL TECH, HDFC BANK, ICICI BANK, SBI, etc.

Current stock option trades open: None

We regularly trade weekly options.