Indian Market Outlook: May 20, 2022

 

NIFTY is likely to open positive.

NIFTY short-term support is between 15770-15820 and resistance is between 16230-16280.

BANKNIFTY short-term support is between 33170-33270 and resistance is between 34150-34250.


Max pain for NIFTY has decreased to 16050.

Max pain for BANKNIFTY has decreased to 33800.

Max pain for USDINR is same at the 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.



Upcoming Events:

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Disclosure:
Portfolio: NIFTYBeeS, LIQUIDBeeS, HCL TECH, ICICI BANK, ITC, AXIS BANK, YES BANK, etc.
Current stock option trades: HDFC, ICICI BANK and TVS MOTORS 
We trade regularly BANKNIFTY weekly option.




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