Indian Market Outlook: February 27, 2024

NIFTY is likely to open neutral.

NIFTY short-term support is between 22000-22050 and resistance is between 22250-22300.

BANKNIFTY short-term support is between 46300-46400 and resistance is between 47300-47400.

Max pain for NIFTY is same at the 22100.

Max pain for BANKNIFTY has decreased to 46800.

Max pain for USDINR is same at the 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: Ended in big loss. This is highest intraday loss ever.

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-a-non-directional-options-strategy-setup-in-power-grid-corporation-of-india-12356691.html

Disclosure:

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

Current stock option trades open: None

We regularly trade weekly options.