Indian Market Outlook: January 21, 2022

NIFTY is likely to open negative.

NIFTY short term support is between 17450-17500 and resistance is between 18870-18820.

BANKNIFTY short term support is between 37000-37100 and resistance is between 38070-38170.

Max pain for NIFTY has decreased to 17900.

Max pain for BANKNIFTY is same at 38000.

Max pain for USDINR is same at 74.50.

Can look for Long PUT/Short CALL on rally.

At our short term levels, directional trades can be tried.

Last Trading Day's Highlights for us (algo trading):

Weekly BANKNIFTY strategies trades: Closed in RED.

https://www.sonicalpha.com/p/algo.html

Upcoming Events:

Workshop (Bengaluru):

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-axis-bank-3-7965101.html