Indian Market Outlook: December 07, 2021

NIFTY is likely to open positive.

It is likely to remain between our short term levels.

NIFTY short term support is between 16870-16920 and resistance is between 17380-17430.

BANKNIFTY short term support is between 35500-35600 and resistance is between 36580-36680.

Max pain for NIFTY has reduced to 17050.

Max pain for BANKNIFTY has reduced to 36000.

Max pain for USDINR is increased to 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.

Trade setup:

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