Indian Market Outlook: June 02, 2022

NIFTY is likely to open negative.

NIFTY short-term support is between 164330-16380 and resistance is between 16650-16700.

BANKNIFTY short-term support is between 35100-35200 and resistance is between 35900-36000.

Max pain for NIFTY is the same at 16500.

Max pain for BANKNIFTY is the same at 35500.

Max pain for USDINR has decreased to 0.00.

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-and-high-probability-options-strategy-in-currency-pair-usd-inr-5-8624091.html

https://www.moneycontrol.com/news/business/markets/options-trade-a-non-directional-options-strategy-in-asian-paints-8624101.html

Disclosure:

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

Current stock option trades open: None

We regularly trade BANKNIFTY weekly option.