Indian Market Outlook: March 16, 2022

NIFTY is likely to open positive.

NIFTY short term support is between 16550-16600 and resistance is between 17010-17060.

BANKNIFTY short term support is between 34710-34810 and resistance is between 35720-35820.

Max pain for NIFTY is the same at 16700.

Max pain for BANKNIFTY is the same at 35000.

Max pain for USDINR is the same at 76.50.

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

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

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

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