Indian Market Outlook: February 24, 2022

 

NIFTY is likely to open negative.

NIFTY short term support is between 16700-16750 and resistance is between 17150-17200.

BANKNIFTY short term support is between 36500-36600 and resistance is between 37650-37750.


Max pain for NIFTY has decreased to 17100.

Max pain for BANKNIFTY is the same at 37500.

Max pain for USDINR has decreased to 74.50.


Can look for Long PUT/Short CALL on the rally.

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


Last Trading Day's Highlights for us (algo trading):
Weekly BANKNIFTY strategies trades: Under control.



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