Index levels & Views for 7 Aug

Nifty Spot at 10948

Resistance at 11015/ 11080

Support at 10890/ 10840

BankNifty closed at 28022

Resistance at 28245 / 28545

Support at 27750 / 27550

View: - Bearish for lower levels only in case we get a upmove post RBI event,

I will be looking to sell into any upside that is generated post RBI announcement.

First 3 min is a cool off period for options in case you are looking to trade via options.

Policy announcement time is 11:45, so you should not trade in options before 11:49

I will update on a change of view based on action post policy announcement.