Indian Market Outlook: June 10, 2022

 

NIFTY is likely to open negative.

NIFTY short-term support is between 16170-16220 and resistance is between 16480-16530.


BANKNIFTY short-term support is between 34450-34550 and resistance is between 35260-35360.


Max pain for NIFTY is same at the 16400.

Max pain for BANKNIFTY is same at the 35000.

Max pain for USDINR is same at the 77.75.


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: Closed in RED






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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