Indian Market Outlook: January 31, 2022

 

NIFTY is likely to open positive.

NIFTY short term support is between 16880-16930 and resistance is between 17390-17440.

BANKNIFTY short term support is between 37020-37120 and resistance is between 38770-38870.

Max pain for NIFTY has increased to 17200.

Max pain for BANKNIFTY has increased to 38000.

Max pain for USDINR has increased to 75.25.

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: No trades.

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-bpcl-8003821.html