Indian Market Outlook: January 31, 2024

NIFTY is likely to open neutral.

NIFTY short-term support is between 21350-21400 and resistance is between 21750-21800.

BANKNIFTY short-term support is between 44900-45000 and resistance is between 46500-46600.

Max pain for NIFTY is same at the 21600.

Max pain for BANKNIFTY has decreased to 45400.

Max pain for USDINR is same at the 83.13.

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-earning-based-non-directional-options-strategy-setup-in-bank-of-baroda-12157641.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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