Indian Market Outlook: December 08, 2023

NIFTY is likely to open neutral.

NIFTY short-term support is between 20700-20750 and resistance is between 20950-21000.

BANKNIFTY short-term support is between 46400-46500 and resistance is between 47300-47400.

Max pain for NIFTY has increased to 20900.

Max pain for BANKNIFTY is same at the 46800.

Max pain for USDINR is same at the 83.38.

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: 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-infosys-7-11871781.html

Disclosure:

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

Current stock option trades open: None

We regularly trade weekly options.