Indian Market Outlook: May 11, 2021

 


NIFTY is likely to open negative.

It is likely to remain between our short term levels.


NIFTY short term support is between 14710-14760 and resistance is between 15070-15020.


BANKNIFTY short term support is between 32440-32540 and resistance is between 33740-33840.


Max pain for NIFTY has increased to 14900.

Max pain for BANKNIFTY remains at 33000.

Max pain for USDINR has decreased to 73.50.


Can look for Short PUT/Long CALL on drop or near short term support.



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:

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