Indian Market Outlook: January 27, 2022

NIFTY is likely to open negative.

NIFTY short term support is between 16590-16640 and resistance is between 17260-17310.

BANKNIFTY short term support is between 35400-35500 and resistance is between 37690-37790.

Max pain for NIFTY has decreased to 17350.

Max pain for BANKNIFTY has increased to 37500.

Max pain for USDINR has increased to 74.75.

Can look for Long PUT/Short CALL on rally.

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

Last Trading Day's Highlights for us (algo trading):
Weekly BANKNIFTY strategies trades: Small loss.

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