Indian Market Outlook: January 28, 2022

NIFTY is likely to open neutral.

NIFTY short term support is between 16880-16930 and resistance is between 17260-17310.

BANKNIFTY short term support is between 37020-37120 and resistance is between 38310-38410.

Max pain for NIFTY has decreased to 17100.

Max pain for BANKNIFTY is the same at 37500.

Max pain for USDINR has increased to 75.00.

Can look for Long PUT/Short CALL on the rally.

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

Last Trading Day's Highlights for us (algo trading):
Weekly BANKNIFTY strategies trades: Closed in GREEN.

More info:

Trade setup:

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