Indian Market Outlook: June 17, 2021

 

NIFTY is likely to open negative.

It is likely to remain between our short term levels.


NIFTY short term support is between 15600-15650 and resistance is between 15810-15860.


BANKNIFTY short term support is between 34530-34630 and resistance is between 35500-35600.


Max pain for NIFTY is same at 15800.

Max pain for BANKNIFTY has reduced to 35000.

Max pain for USDINR is same at 73.25.


Can look for Short PUT/Long CALL near short term support level.


Last Trading Day's Highlights for us:

1. Weekly BANKNIFTY option strategy positional trades: Under control.
2. Monthly Stock option strategy positional trades: Under control.
3. Monthly Stock Covered CALL positional trades: Under control.
4. Monthly NIFTY Covered CALL positional trades: Under control.







Trade setup:

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