RBI POLICY TOMORROW - DAY OF SUSPENSION BETWEEN WEDNESDAY'S GAP UP & FRIDAY'S GAP DOWN...
(both gaps will provide respective support & resistance... let's see which gap fills up first... though, due to unfortunate incidents of our country along with lurking RBI policy, high chances of the (lower) gapup being filled first)
The gap support is at 4260-40 (SPOT) Ideally, this should act as a strong support today, for the health of the bullish rally of the last week.
Below 4240 ----> 4215/4200
4250 is the bearish pivot for today... as long as SPOT sustains below this, it will be a sell on rallies strategy.
4285 (thurday's low & friday's near high) is the bullish pivot - if spot sustains above this, then we can expect the gap-down band of 4400-4430 to be filled.
In summary,
4200/15 - 4260/40 - 4315 - 4350 - 4385 - 4400/30
(both gaps will provide respective support & resistance... let's see which gap fills up first... though, due to unfortunate incidents of our country along with lurking RBI policy, high chances of the (lower) gapup being filled first)
The gap support is at 4260-40 (SPOT) Ideally, this should act as a strong support today, for the health of the bullish rally of the last week.
Below 4240 ----> 4215/4200
4250 is the bearish pivot for today... as long as SPOT sustains below this, it will be a sell on rallies strategy.
4285 (thurday's low & friday's near high) is the bullish pivot - if spot sustains above this, then we can expect the gap-down band of 4400-4430 to be filled.
In summary,
4200/15 - 4260/40 - 4315 - 4350 - 4385 - 4400/30