Indian Market Outlook: May 12, 2022

NIFTY is likely to open negative.

NIFTY short-term support is between 15950-16000 and resistance is between 16300-16350.

BANKNIFTY short-term support is between 33900-34000 and resistance is between 34800-34900.

Max pain for NIFTY has decreased to 16200.

Max pain for BANKNIFTY has increased to 34600.

Max pain for USDINR is same at the 77.25.

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: Under control.

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