Indian Market Outlook: May 10, 2021


NIFTY is likely to open positive.

It is likely to remain between our short term levels.


NIFTY short term support is between 14710-14760 and resistance is between 15070-15120.


BANKNIFTY short term support is between 32440-32540 and resistance is between 34270-34370.


Max pain for NIFTY is at 14800.

Max pain for BANKNIFTY is at 33000.

Max pain for USDINR has is at 73.75.


Can look for Short PUT/Long CALL on drop.


Last Trading Day's Highlights for us:

1. Weekly BANKNIFTY option strategy positional trades: Initiated.
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:

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