Indian Market Outlook: April 06, 2022

NIFTY is likely to open negative.

NIFTY short-term support is between 17780-17830 and resistance is between 18100-18150.

BANKNIFTY short-term support is between 37500-37600 and resistance is between 38700-38800.

Max pain for NIFTY has increased to 17900.

Max pain for BANKNIFTY is the same at 38000.

Max pain for USDINR is same at the 75.75.

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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Trade setup:

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