Indian Market Outlook: June 06, 2022


NIFTY is likely to open negative.

NIFTY short-term support is between 16430-16480 and resistance is between 16850-16900.


BANKNIFTY short-term support is between 34650-35750 and resistance is between 35530-36630.


Max pain for NIFTY is same at the 16600.

Max pain for BANKNIFTY is same at the 35500.

Max pain for USDINR has decreased to 0.00.


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:





Disclosure:

Portfolio: NIFTYBeeS, LIQUIDBeeS, HCL TECH, HDFC BANK, ICICI BANK, SBI, etc.

Current stock option trades open: None

We regularly trade BANKNIFTY weekly option.




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