Indian Market Outlook: May 31, 2021


NIFTY is likely to open negative.

It is likely to remain between our short term levels.

NIFTY short term support is between 15200-15250 and resistance is between 15500-15550.


BANKNIFTY short term support is between 34300-34400 and resistance is between 35500-35600.


Max pain for NIFTY has increased to15400.

Max pain for BANKNIFTY has remained same at 35000.

Max pain for USDINR has remained same at 72.75.


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:

https://www.moneycontrol.com/news/business/markets/options-trade-an-earnings-based-options-strategy-in-itc-3-6962081.html





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