Indian Market Outlook: April 16, 2024

NIFTY is likely to open negative.

NIFTY short-term support is between 21950-22000 and resistance is between 22350-22400.

BANKNIFTY short-term support is between 46900-47000 and resistance is between 47900-48000.

Max pain for NIFTY has decreased to 22400.

Max pain for BANKNIFTY has increased to 48900.

Max pain for USDINR has increased to 83.25.

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-an-earnings-based-non-directional-options-strategy-in-infosys-5-12646141.html

Disclosure:

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

Current stock option trades open: None

__PRESENT