Indian Market Outlook: May 04, 2022


NIFTY is likely to open positive.

NIFTY short-term support is between 16800-16850 and resistance is between 17120-17170.

BANKNIFTY short-term support is between 35740-35840 and resistance is between 36130-36230.

Max pain for NIFTY has decreased to 17050.

Max pain for BANKNIFTY has decreased to 36100.

Max pain for USDINR is same at the 76.50.

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

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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Trade setup:

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