It was an eventful expiry with data and global news both paying its part and showing their value. Today, the day starts with RBI policy at 10 am and it's volatility. We have had a good rally so far and my targets for the week were nearly completed.
Overall the market structure looks positive but we are near the resistance levels. Thus we need to wait for the breakout...till then it can invite some profit booking again.
Nifty. Support is clearly placed at 17200 and resistance at 17400. The range of 17400 to 17550 is a no trade zone.
Bank Nifty Prediction
BankNifty. Falling Rupee and RBI policy could keep the Index under pressure and volatile. So try to stay away from it. Support is placed at 37200 and resistance at 38200.
#Derivative. Data formation is weak. There is sustained selling in Index futures and highly stock specific moves are happening due to stock longs.
Trade with small positions today.
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