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.