Indian Market Outlook: May 05, 2020

NIFTY is likely to open negative (Gap Down).
It is likely to remain negative in the later part of the day.
NIFTY short term support is between 8900-9000 and resistance is between 10100-10200

BANKNIFTY short term support is between 19980-20080 and resistance is between 21660-21760

Can look for short opportunity on rally.

Last Trading Day's Highlights for us:

1. Monthly Currency option strategy positional trades - None.
2. Monthly Stock option strategy positional trades initiated.
3. Weekly BANKNIFTY option strategy positional trades were closed in RED.
4. Intraday trades - None
5. Next live trading session is from May 15-May 21.

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