Indian Market Outlook: May 20, 2022

 

NIFTY is likely to open positive.

NIFTY short-term support is between 15770-15820 and resistance is between 16230-16280.

BANKNIFTY short-term support is between 33170-33270 and resistance is between 34150-34250.

Max pain for NIFTY has decreased to 16050.

Max pain for BANKNIFTY has decreased to 33800.

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-steel-authority-of-india-8542361.html

Disclosure:

Portfolio: NIFTYBeeS, LIQUIDBeeS, HCL TECH, ICICI BANK, ITC, AXIS BANK, YES BANK, etc.

Current stock option trades: HDFC, ICICI BANK and TVS MOTORS 

We trade regularly BANKNIFTY weekly option.