Indian Market Outlook: February 03, 2022

 

NIFTY is likely to open neutral.

NIFTY short term support is between 17520-17570 and resistance is between 17920-17970.

BANKNIFTY short term support is between 38330-38430 and resistance is between 39610-39710.

Max pain for NIFTY has increased to 17700.

Max pain for BANKNIFTY has increased to 39100.

Max pain for USDINR is same at 75.00.

Can look for Long CALL/Short PUT on 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/options-trade-an-earnings-based-non-directional-options-strategy-in-itc-8029131.html