Banknifty ahead of RBI policy !!
Updated
Important intraday levels are marked in the chart.
Banknifty has spent so much time in the short range ahead of RBI policy, It is expected that after RBI policy update markets may take a meaningful direction.
Banknifty may give major breakout on upside if it sustains above 44320... provided policy updates are inline with the expectations.
for downside movement Banknifty has to cross 44200 decisively.
Targets for both long and short are marked in the dotted line.
Play strictly with the levels..
Banknifty has spent so much time in the short range ahead of RBI policy, It is expected that after RBI policy update markets may take a meaningful direction.
Banknifty may give major breakout on upside if it sustains above 44320... provided policy updates are inline with the expectations.
for downside movement Banknifty has to cross 44200 decisively.
Targets for both long and short are marked in the dotted line.
Play strictly with the levels..
Note
Market witnessed a very nice upmove above 44320, now trail your SL from here, please dont short from top unless it gives meaningful downside movement as it is in upward trend.
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