Indian Market Outlook: June 07, 2022

 

NIFTY is likely to open negative.

NIFTY short-term support is between 16360-16410 and resistance is between 16720-16770.


BANKNIFTY short-term support is between 34750-35850 and resistance is between 35530-36630.


Max pain for NIFTY is same at the 16600.

Max pain for BANKNIFTY has decreased to 35400.

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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