Indian Market Outlook: May 16, 2022

 

NIFTY is likely to open positive.

NIFTY short-term support is between 15730-15780 and resistance is between 16050-16100.

BANKNIFTY short-term support is between 32950-33050 and resistance is between 33950-34050.

Max pain for NIFTY is same at the 15900.

Max pain for BANKNIFTY has decreased to 33500.

Max pain for USDINR has increased to 77.50.

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/currency-options-a-low-risk-and-high-probability-options-strategy-in-currency-pair-usd-inr-2-8511231.html

https://www.moneycontrol.com/news/business/markets/options-trade-an-earnings-based-non-directional-options-strategy-in-dlf-8511241.html