Indian Market Outlook: May 17, 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 34000-34100.

Max pain for NIFTY is same at the 15900.

Max pain for BANKNIFTY has increased to 33600.

Max pain for USDINR is same at the 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/options-trade-an-earnings-based-non-directional-options-strategy-in-itc-2-8520141.html