Index levels & Views for 4 Oct
Nifty Spot CMP at 11360
Resistance at 11410 / 11535
Support at 11250 / 11190
BankNifty CMP at 28480
Resistance at 28825 / 29040
Support at 28450 / 28090
View: - RBI policy announcement at 11:45 , mandatory cool off period to trade is 4 min for option premiums to adjust. So trade time should not be before 11:48
Expectations on Market Moves: -
If first reaction to policy is up, trade is to sell on rise near to resistance levels
If first reaction to policy is Down, trade is to Buy the dip near to support levels
Do not bet big on the event, its a Friday so option pricing will also be high today.
If there is a change in view, i will update accordingly.