Indian Market Outlook: April 21, 2022

NIFTY is likely to open positive.

NIFTY short-term support is between 16970-17020 and resistance is between 17230-17280.

BANKNIFTY short-term support is between 35900-36000 and resistance is between 37040-37140.

Max pain for NIFTY has increased to 17150.

Max pain for BANKNIFTY has decreased to 36500.

Max pain for USDINR is same at the 76.25.

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.

https://www.sonicalpha.com/p/algo.html

Upcoming Events:

Workshop:

http://www.pasitechnologies.com/p/trading.html

Prerequisite: 

http://www.pasitechnologies.com/p/prerequisite.html

More info:

https://www.pasitechnologies.com/p/trainer.html

Trade setup:

https://www.moneycontrol.com/news/business/markets/currency-options-a-low-risk-options-strategy-in-currency-pair-usd-inr-8386911.html

https://www.moneycontrol.com/news/business/markets/options-trade-a-non-directional-options-strategy-in-bank-nifty-6-8386861.html