Indian Market Outlook: February 04, 2022

NIFTY is likely to open positive.

NIFTY short term support is between 17240-17290 and resistance is between 17750-17800.

BANKNIFTY short term support is between 38330-38430 and resistance is between 39500-39600.

Max pain for NIFTY has decreased to 17600.

Max pain for BANKNIFTY has decreased to 39000.

Max pain for USDINR is same at 75.00.

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: Closed in GREEN.

Trade setup:

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