Indian Market Outlook: February 04, 2022

NIFTY is likely to open positive.

NIFTY short term support is between 17240-17290 and resistance is between 17750-17800.

BANKNIFTY short term support is between 38330-38430 and resistance is between 39500-39600.

Max pain for NIFTY has decreased to 17600.

Max pain for BANKNIFTY has decreased to 39000.

Max pain for USDINR is same at 75.00.

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 GREEN.

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-tata-steel-3-8035691.html