Indian Market Outlook: May 18, 2022


NIFTY is likely to open neutral.

NIFTY short-term support is between 16050-16100 and resistance is between 16450-16500.

BANKNIFTY short-term support is between 33800-33900 and resistance is between 34800-34900.

Max pain for NIFTY has increased to 16150.

Max pain for BANKNIFTY has increased to 34000.

Max pain for USDINR is same at the 77.50.

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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Trade setup:

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