Indian Market Outlook: January 31, 2022


NIFTY is likely to open positive.

NIFTY short term support is between 16880-16930 and resistance is between 17390-17440.

BANKNIFTY short term support is between 37020-37120 and resistance is between 38770-38870.

Max pain for NIFTY has increased to 17200.

Max pain for BANKNIFTY has increased to 38000.

Max pain for USDINR has increased to 75.25.

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: No trades.

Trade setup:

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