Indian Market Outlook: November 08, 2023

NIFTY is likely to open positive.

NIFTY short-term support is between 19200-19250 and resistance is between 19500-19550.

BANKNIFTY short-term support is between 43200-43300 and resistance is between 44000-44100.

Max pain for NIFTY is same at the 19350.

Max pain for BANKNIFTY has increased to 43600.

Max pain for USDINR is same at the 83.25.

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):

Algo trading: 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/business/markets/options-trade-an-earning-based-non-directional-options-strategy-in-bhel-2-11691091.html

Disclosure:

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

Current stock option trades open: None

We regularly trade weekly options.