NIFTY is likely to open negative.
NIFTY short-term support is between 21950-22000 and resistance is between 22500-22550.
BANKNIFTY short-term support is between 49000-49100 and resistance is between 50000-50100.
Max pain for NIFTY has decreased to 23000.
Max pain for BANKNIFTY is same at the 51500.
You may look for a Long PUT/Short CALL on the rally.
At our short-term levels, directional trades may be tried.
Please note that this is not a recommendation. Please consult your financial advisor.
Disclosure:
Portfolio: ATUL, BANKBEES, CHOLAFIN, CONCOR, DMART, GODLBEES, FINEORG, HCLTECH, HDFCBANK, ICICIBANK, JUNIORBEES, KPITTECH, LIQUIDBEES, MOM30IETF, NIFTYBEES, POLYMED, REDTAPE, SBIN, SILVERBEES, TIMKEN, etc.
We regularly trade weekly options.
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