Indian Market Outlook: April 29, 2024

 

NIFTY is likely to open positive.

NIFTY short-term support is between 22300-22350 and resistance is between 22600-22650.

BANKNIFTY short-term support is between 48000-48100 and resistance is between 48800-48900.

Max pain for NIFTY is same at the 22500.

Max pain for BANKNIFTY is same at the 48300.

Max pain for USDINR has increased to 83.75.

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-earnings-based-non-directional-options-strategy-in-ultratech-cement-12709994.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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