Indian Market Outlook: March 03, 2022

 

NIFTY is likely to open positive.

NIFTY short term support is between 16420-16470 and resistance is between 16770-16820.

BANKNIFTY short term support is between 34990-35090 and resistance is between 36200-36300.

Max pain for NIFTY has decreased to 16600.

Max pain for BANKNIFTY has decreased to 35500.

Max pain for USDINR is the same at 75.50.

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):

Weekly BANKNIFTY strategies trades: 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-non-directional-options-strategy-in-bank-nifty-2-8185911.html