Indian Market Outlook: May 21, 2021

 

NIFTY is likely to open positive.

It is likely to remain between our short term levels.


NIFTY short term support is between 14800-14850 and resistance is between 15040-15090.


BANKNIFTY short term support is between 33020-33120 and resistance is between 33970-34070.


Max pain for NIFTY has decreased to 14900.

Max pain for BANKNIFTY remains same at 33500.

Max pain for USDINR has increased to 73.25.


Can look for Short PUT/Long CALL on drop.




1. Weekly BANKNIFTY option strategy positional trades: Closed in GREEN.
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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