Indian Market Outlook: May 16, 2022


NIFTY is likely to open positive.

NIFTY short-term support is between 15730-15780 and resistance is between 16050-16100.

BANKNIFTY short-term support is between 32950-33050 and resistance is between 33950-34050.

Max pain for NIFTY is same at the 15900.

Max pain for BANKNIFTY has decreased to 33500.

Max pain for USDINR has increased to 77.50.

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.

Trade setup:

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