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.

https://www.sonicalpha.com/p/algo.html

Upcoming Events:

Workshop:

http://www.pasitechnologies.com/p/trading.html

Prerequisite: 

http://www.pasitechnologies.com/p/prerequisite.html

More info:

https://www.pasitechnologies.com/p/trainer.html

Trade setup:

https://www.moneycontrol.com/news/business/markets/currency-options-a-low-risk-options-strategy-in-currency-pair-usdinr-9-8491711.html

https://www.moneycontrol.com/news/business/markets/options-trade-an-earnings-based-non-directional-options-strategy-in-state-bank-of-india-2-8491721.html