Indian Market Outlook: June 01, 2022

 

NIFTY is likely to open neutral.

NIFTY short-term support is between 16450-16500 and resistance is between 16710-16760.

BANKNIFTY short-term support is between 35000-35100 and resistance is between 35900-36000.

Max pain for NIFTY is the same at the 16500.

Max pain for BANKNIFTY has decreased to 35500.

Max pain for USDINR has decreased to 0.00.

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.

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/options-trade-a-wide-range-non-directional-options-strategy-in-tata-steel-2-8616071.html

Disclosure:

Portfolio: NIFTYBeeS, LIQUIDBeeS, HCL TECH, ICICI BANK, ITC, AXIS BANK, etc.

Current stock option trades open: None

We regularly trade BANKNIFTY weekly option.