Indian Market Outlook: November 22, 2023

NIFTY is likely to open neutral.

NIFTY short-term support is between 19550-19600 and resistance is between 19850-19900.

BANKNIFTY short-term support is between 43200-42300 and resistance is between 44100-44200.

Max pain for NIFTY has increased to 19800.

Max pain for BANKNIFTY is same at the 43700.

Max pain for USDINR is same at the 83.25.

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):

Algo trading: 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-lt-finance-holdings-2-11784221.html

Disclosure:

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

Current stock option trades open: None

We regularly trade weekly options.