Indian Market Outlook: January 04, 2024

NIFTY is likely to open positive.

NIFTY short-term support is between 21400-21450 and resistance is between 21750-21800.

BANKNIFTY short-term support is between 47200-47300 and resistance is between 48200-48300.

Max pain for NIFTY has decreased to 21550.

Max pain for BANKNIFTY is same at the 47800.

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/technicals/options-trade-a-non-directional-options-strategy-in-tech-mahindra-5-11995431.html

Disclosure:

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

Current stock option trades open: None

We regularly trade weekly options.

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