Indian Market Outlook: January 17, 2024

NIFTY is likely to open negative.

NIFTY short-term support is between 21750-21800 and resistance is between 22050-22100.

BANKNIFTY short-term support is between 47500-47600 and resistance is between 48300-48400.

Max pain for NIFTY is same at the 22000.

Max pain for BANKNIFTY is same at the 48000.

Max pain for USDINR has increased to 83.00.

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-an-earnings-based-non-directional-options-strategy-in-asian-paints-2-12064281.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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