Indian Market Outlook: February 07, 2024

NIFTY is likely to open positive.

NIFTY short-term support is between 21700-21750 and resistance is between 22100-22150.

BANKNIFTY short-term support is between 45300-45400 and resistance is between 46700-46800.

Max pain for NIFTY has increased to 21900.

Max pain for BANKNIFTY has decreased to 45800.

Max pain for USDINR is same at the 83.00.

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/markets/options-trade-earnings-based-non-directional-options-strategy-for-powergrid-12207691.html

Disclosure:

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

Current stock option trades open: None

We regularly trade weekly options.

__PRESENT