NIFTY is likely to open neutral.
NIFTY short-term support is between 16050-16100 and resistance is between 16450-16500.
BANKNIFTY short-term support is between 33800-33900 and resistance is between 34800-34900.
Max pain for NIFTY has increased to 16150.
Max pain for BANKNIFTY has increased to 34000.
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.
Trade setup:
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