Indian Market Outlook: February 28, 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 the same at 22100.

Max pain for BANKNIFTY has decreased to 46600.

Max pain for USDINR has decreased to 82.88.

You 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-a-non-directional-options-strategy-setup-in-state-bank-of-india-12366311.html

Disclosure:

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

Current stock option trades open: None

We regularly trade weekly options.