Indian Market Outlook: May 12, 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 33400-33500.


Max pain for NIFTY has decreased to 14800.

Max pain for BANKNIFTY remains at 33000.

Max pain for USDINR remains at 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:

https://www.moneycontrol.com/news/business/markets/options-trade-a-wide-range-earnings-based-options-strategy-in-cipla-6881881.html


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