Indian Market Outlook: February 08, 2022

NIFTY is likely to open positive.

NIFTY short term support is between 17000-17050 and resistance is between 17400-17450.

BANKNIFTY short term support is between 37500-37600 and resistance is between 38500-38600.

Max pain for NIFTY is same at 17300.

Max pain for BANKNIFTY is same at 38300.

Max pain for USDINR has decreased to 0.00.

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: Minor loss booked.

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

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