Well, the RBI held the status quo as I had mentioned in my last issue of the Daily Game Plan!
As I had clearly mentioned that Nifty faces significant resistance between 11250-11300 zone. Nifty after making a high of 11256 gave up some of the gains and closed at 11200.15.
While Nifty Bank kissed the important level on 21950 and gave back the majority of the gains to close at 21642.6.
Both Nifty & Nifty Bank have traced out a Doji candlestick pattern which shows indecision near important resistance levels which is not a good sign.
Tomorrow is weekly close and let’s see where both the indices close which will determine the future trend.
For now, as long as Nifty is above 10850, I am bullish!
Here’s the list of most oversold stocks based on my Swing Trading Model. You can choose to enter at an intraday correction of 2-3% from the previous close.
I already have open position in Bandhan Bank at 302.15. Let’s see how it fares tomorrow.
Do check out the real-time performance of my strategies which I will update on Saturday.
Have a profitable trading day!