Indian Market Outlook: January 11, 2024

NIFTY is likely to open neutral.

NIFTY short-term support is between 21450-21500 and resistance is between 21800-21850.

BANKNIFTY short-term support is between 46900-47000 and resistance is between 47900-48000.

Max pain for NIFTY is same at the 21600.

Max pain for BANKNIFTY has increased to 47500.

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-an-earning-based-non-directional-options-strategy-in-hcl-technologies-3-12031731.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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