Indian Market Outlook: March 02, 2022

 

NIFTY is likely to open negative.

NIFTY short term support is between 16420-16470 and resistance is between 16770-16820.

BANKNIFTY short term support is between 35610-35710 and resistance is between 36740-36840.

Max pain for NIFTY has increased to 16700.

Max pain for BANKNIFTY has decreased to 36100.

Max pain for USDINR is same at 75.50.

Can look for Long PUT/Short CALL on the 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-a-non-directional-options-strategy-in-nifty-2-8181171.html