Indian Market Outlook: January 06, 2022

NIFTY is likely to open negative.

NIFTY short term support is between 17680-17730 and resistance is between 17950-18000.

BANKNIFTY short term support is between 36750-36850 and resistance is between 38000-38100.

Max pain for NIFTY has increased to 17850.

Max pain for BANKNIFTY has increased to 37400.

Max pain for USDINR is same at 74.50.

Can look for Long CALL/Short PUT on drop.

At our short term levels, directional trades can be initiated.

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

Weekly BANKNIFTY strategies trades: Under control.

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Trade setup:

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