Yesterday Nifty breakout above its resistence & prove me compltly wrong.
For today just another day, declaration of RBI policy & also a stiff resistence of 5700-5710 level.
If any favorable annoucement than Nf may pass this zone & establish above it.
Rather on the different side any unfavorable declaration than nifty might falla bit towards 5650-60 & than recover towards 5700 again.
Now how to trade today:-
Better to wait till Rbi policy at 11.30 & after that enter any trade.
I prefer to long near to its previous zone of 5650 with sl 5625.
Today no short trade,risk takers may take a contra view at 5705-10 with sl 5720
For today just another day, declaration of RBI policy & also a stiff resistence of 5700-5710 level.
If any favorable annoucement than Nf may pass this zone & establish above it.
Rather on the different side any unfavorable declaration than nifty might falla bit towards 5650-60 & than recover towards 5700 again.
Now how to trade today:-
Better to wait till Rbi policy at 11.30 & after that enter any trade.
I prefer to long near to its previous zone of 5650 with sl 5625.
Today no short trade,risk takers may take a contra view at 5705-10 with sl 5720
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