Indian Market Outlook: January 05, 2022


NIFTY is likely to open negative.

It is likely to remain between our short term levels.

NIFTY short term support is between 17550-17600 and resistance is between 17850-17900.

BANKNIFTY short term support is between 36100-36200 and resistance is between 36940-37040.

Max pain for NIFTY has increased to 17700.

Max pain for BANKNIFTY has increased to 36500.

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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