Indian Market Outlook: June 21, 2021

 

NIFTY is likely to open negative.

It is likely to remain between our short term levels.


NIFTY short term support is between 15500-15550 and resistance is between 15810-15860.


BANKNIFTY short term support is between 34030-34130 and resistance is between 35450-35550.


Max pain for NIFTY has reduced to 15600.

Max pain for BANKNIFTY has reduced to 34500.

Max pain for USDINR has increased to 74.00.


Can look for Short PUT/Long CALL near support levels.




Last Trading Day's Highlights for us:

1. Weekly BANKNIFTY option strategy positional trades: Initiated.
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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