Indian Market Outlook: May 23, 2022

 

NIFTY is likely to open negative.

NIFTY short-term support is between 15990-16040 and resistance is between 16270-16320.

BANKNIFTY short-term support is between 33640-33740 and resistance is between 34570-34670.

Max pain for NIFTY has increased to 16200.

Max pain for BANKNIFTY has increased to 34200.

Max pain for USDINR has decreased to 77.25.

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:

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-3-8548191.html

https://www.moneycontrol.com/news/business/markets/options-trade-an-earnings-based-non-directional-options-strategy-in-coal-india-2-8548231.html

Disclosure:

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

Current stock option trades open: HDFC, ICICIBANK and TVS MOTORS 

We trade regularly BANKNIFTY weekly option.