Indian Market Outlook: April 20, 2021


NIFTY is likely to open positive.

It is likely to remain between our short term levels.


NIFTY short term support is between 14380-14430 and resistance is between 14650-14700.


BANKNIFTY short term support is between 30510-30610 and resistance is between 31940-32040


Max pain for NIFTY has decreased to14400.

Max pain for BANKNIFTY has decreased to 31100.

Max pain for USDINR is increased to 74.75.


Can look for Short CALL/Long PUT on rally.


Last Trading Day's Highlights for us:

1. Weekly BANKNIFTY option strategy positional trades: Under control.
2. Weekly NIFTY option strategy positional trades: None
3. Monthly NIFTY option strategy positional trades: None
4. Monthly Stock option strategy positional trades: Under control.
5. Monthly Currency option strategy positional trades: None






Trade setup:

https://www.moneycontrol.com/news/business/markets/options-trade-a-wide-range-non-directional-strategy-in-bank-nifty-2-6789781.html



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