Indian Market Outlook: May 04, 2022

 

NIFTY is likely to open positive.

NIFTY short-term support is between 16800-16850 and resistance is between 17120-17170.

BANKNIFTY short-term support is between 35740-35840 and resistance is between 36130-36230.

Max pain for NIFTY has decreased to 17050.

Max pain for BANKNIFTY has decreased to 36100.

Max pain for USDINR is same at the 76.50.

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):

Weekly BANKNIFTY strategies trades: Under control.

https://www.sonicalpha.com/p/algo.html

Upcoming Events:

Workshop (Mumbai and Chennai):

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-tata-consumer-products-2-8447571.html