my pre market journal for nifty 6/4/23
nifty has broken the previous high of 17530 and has given closure above 17550. however after a 3 day wining streak I am expecting a sideways to lower closure on expiry day today. more over there is an RBI policy meeting outcome. any increase in rate of more than 25 basis point will pull the markets down and if RBI chooses to maintain the rates then we can see a zoom up.
as per OI buildup data, the trading can be in range of 17450-17700.
expecting a lower opening at about 17750. in case market moves up above the high of yesterday (17570), the enter long with SL of 17550 for targets 17600/643/176/700.
if break sown below 17530, the enter short trade with SL at 17550 for targets of 17487/450/420.
I am waiting till RBI meeting outcome before entering the trade to avoid being caught in any jerky movements.
as per OI buildup data, the trading can be in range of 17450-17700.
expecting a lower opening at about 17750. in case market moves up above the high of yesterday (17570), the enter long with SL of 17550 for targets 17600/643/176/700.
if break sown below 17530, the enter short trade with SL at 17550 for targets of 17487/450/420.
I am waiting till RBI meeting outcome before entering the trade to avoid being caught in any jerky movements.
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