Indian Market Outlook: March 17, 2022

NIFTY is likely to open positive.

NIFTY short term support is between 16840-16890 and resistance is between 17210-17260.

BANKNIFTY short term support is between 35480-35580 and resistance is between 36200-36300.

Max pain for NIFTY has increased to 16900.

Max pain for BANKNIFTY has increased to 35500.

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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