Indian Market Outlook: June 20, 2024

NIFTY is likely to open neutral.

NIFTY short-term support is between 23400-23450 and resistance is between 23650-23700.

BANKNIFTY short-term support is between 50400-50500 and resistance is between 51900-52000.

Max pain for NIFTY is same at the 23500.

Max pain for BANKNIFTY has increased to 51000.

Max pain for USDINR is same at the 0.00.

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: 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-low-risk-non-directional-options-strategy-in-bank-nifty-5-12752364.html

Disclosure:

Portfolio: CHOLAFIN, CONCOR, HCLTECH,  HDFCBANK, ICICIBANK, LIQUIDBEES, NIFTYBEES, POLYMED, SBIN, TIMKEN, etc.

Current stock option trades open: None

We regularly trade weekly options.

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