Indian Market Outlook: July 21, 2022


NIFTY is likely to open positive.

NIFTY short-term support is between 16300-16350 and resistance is between 16580-16630.


BANKNIFTY short-term support is between 35490-35590 and resistance is between 36250-36350.


Max pain for NIFTY has increased to 16500.

Max pain for BANKNIFTY has increased to 35900.

Max pain for USDINR has increased to 80.00.


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.





Trade setup:



Disclosure:

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

Current stock option trades open: None

We regularly trade BANKNIFTY weekly option.



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