Indian Market Outlook: October 21, 2021

NIFTY is likely to open neutral.

It is likely to remain between our short term levels.

NIFTY short term support is between 18150-18200 and resistance is between 18440-18490.

BANKNIFTY short term support is between 39250-39350 and resistance is between 39850-39950.

Max pain for NIFTY has reduced to 18300.

Max pain for BANKNIFTY has reduced to 39500.

Max pain for USDINR is same at 75.25.

Can look for Long PUT/Short CALL on rally.

Last Trading Day's Highlights for us:

Algo Trading:
Weekly BANKNIFTY strategies trades: Under control.

Discretionary Trading:
1. Monthly Stock option strategy positional trades: Adjusted.
2. Monthly Stock Covered CALL positional trades: Under control.
3. Monthly NIFTY Covered CALL positional trades: None.

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