Indian Market Outlook: January 04, 2022

NIFTY is likely to open neutral.

It is likely to remain between our short term levels.

NIFTY short term support is between 17490-17540 and resistance is between 17800-17850.

BANKNIFTY short term support is between 35900-36000 and resistance is between 36840-36940.

Max pain for NIFTY has increased to 17500.

Max pain for BANKNIFTY has increased to 36000.

Max pain for USDINR is same at 74.50.

Can look for Long CALL/Short PUT on drop.

Last Trading Day's Highlights for us (algo trading):

Weekly BANKNIFTY strategies trades: Under control.

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