NIFTY is likely to make a decisive move post RBI POLICY today,
since todays POLICY EVENT have coincided with an IMPORTANT CYCLE DATE this had made things very intresting.
On PRICE front the zone of 22,090-22,120 is a near term PATTERN resistance if that gets taken out on upside then that would open up a likely possiblity for a test of 22,300-22,450 on spot.
As long as INDEX stays under this zone of 22,090-22,120 setup would stay vulnerable to drift towards its major support of 21,600 on downside.
TRADES on both sides have element of extra level of risk involved in them,
hens better to approach it with thin volumes.
As of now we dont have parity on PRICE and TIME PATTERNS which we earlier had from mid of NOVEMBER to early JANUARY.
So this extra level of risk would persist until PRICE and TIME achieves their alignment.
EARLIER we discussed 7th&8th,FEBRUARY are key CYCLE dates,
once we get the INTRADAY range for both these dates then we would use that to our advantage.
gann,insides 