How to Trade Event Day?

Trade light today as it is an event day being RBI Governor address.

Now, the Nifty Spot support zone is 16300-16350. (Due to yesterday's rejection candle) Today stop loss or TSL 16300 DCB

BankNifty levels is the

same. TSL 34600 day closing basis or DCB.

Now, the position to short-term trend is non-trending. 

Trade with Hedge... Today is event day. RBIPolicy 

The markets closed at inflection point. It is not a trendline but a divider line. The level is 16415. There are some hurdles beyond it like 16445 and 16620 and also supports at 16350. Today can be interesting day simple because it could lead the way forward for the rest of the month in terms of direction. Best approach is not to have positions before the policy and let's wait for some time before jumping in.

#Nifty. As said yesterday also, break above 16445 is bullish and can give 200 points. Below 16350, opens downside of 200 points.

#BankNifty. The most important number is 34800. If we are able to hold it, then expect sharp move  towards 35800 and 36200.

#Derivative. Data is very bearish. It is more so on futures. ...Index and Stocks. IT means the fall is may not happen today but will happen some time in coming days. Options data is also bearish but not like Index

Wait and watch day.

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