Indian Market Outlook: January 21, 2022

NIFTY is likely to open negative.

NIFTY short term support is between 17450-17500 and resistance is between 18870-18820.

BANKNIFTY short term support is between 37000-37100 and resistance is between 38070-38170.

Max pain for NIFTY has decreased to 17900.

Max pain for BANKNIFTY is same at 38000.

Max pain for USDINR is same at 74.50.

Can look for Long PUT/Short CALL on rally.

At our short term levels, directional trades can be tried.

Last Trading Day's Highlights for us (algo trading):
Weekly BANKNIFTY strategies trades: Closed in RED.

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