Indian Market Outlook: February 07, 2022

 

NIFTY is likely to open negative.

NIFTY short term support is between 17240-17290 and resistance is between 17600-17650.

BANKNIFTY short term support is between 38330-38430 and resistance is between 39020-39120.

Max pain for NIFTY has decreased to 17550.

Max pain for BANKNIFTY is same at 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: 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-bharti-airtel-8047021.html