Indian Market Outlook: March 17, 2022

NIFTY is likely to open positive.

NIFTY short term support is between 16840-16890 and resistance is between 17210-17260.

BANKNIFTY short term support is between 35480-35580 and resistance is between 36200-36300.

Max pain for NIFTY has increased to 16900.

Max pain for BANKNIFTY has increased to 35500.

Max pain for USDINR is the same at 76.50.

Can look for Long CALL/Short PUT on the 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-a-non-directional-options-strategy-in-wipro-8241601.htm

https://www.moneycontrol.com/news/business/markets/currency-options-a-non-directional-options-strategy-in-usdinr-8241591.htmll