Indian Market Outlook: July 22, 2024

NIFTY is likely to open negative.

NIFTY short-term support is between 24500-24550 and resistance is between 24900-24950.

BANKNIFTY short-term support is between 51900-52000 and resistance is between 53000-53100.

Max pain for NIFTY is same at the 24500.

Max pain for BANKNIFTY has decreased to 52300.

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-6-12773500.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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