Everyday we make scenarios for an upside in Bank Nifty and every day it postpones to the next day! For the record though, the closing of the day was higher but the candle for the day shows shadows on both ends. So, that is continued high uncertainty. Now, RBI policy date is reached and is that what the market is waiting for, the actual event? Here too some confusion. Some holiday declared apparently but markets are working. Is the RBI working? I know not. If it is then the policy is today. If not, can it come on Sat? I know not. Maybe Monday? Hell, what confusion. No wonder BNF is not going up.

Nifty rallied a bit but is seen hitting the resistance Gann angle once again. It is chafing at the leash, like a dog that wants to be released to run. Above 25k, I dont think it can be held back. So, now what? We turn our attention back to Nifty?

See, the market will ever be thus- will never make it easy for us to make money. Hold out all kinds of possibilities. Which one will it choose, no one knows. We just place bets on the best looking set ups. We did that on the BNF and are still awaiting out come. If we find the NF staging a move past 24950, then hey, some bets need to go on that as well.

Derivative markets are telling us that long OI is being added in most sectors. That is not a sign of weakness or anticipation of the same. So, why turn bearish because bullish events are not happening? Keep the peace. In the markets waiting for something to happen is one of the toughest things. Learn to deal with that if you are serious about becoming a good trader.

Revisiting Banks, call writing emerged up to 57000 strike. Guess, someone got tired of waiting? Also some unwinding in 60K plus strike positions. Looks like rate cut is a question now? But 56000 still the fulcrum. May get resolved today. So we should watch intraday how that play goes during the day. Quick change in Nifty positions though. At the start of the week Put writing was limited and now that has come up near the money with largest being in 24700. Much of these near the money stuff happened today. So, definitely worth noting. And, call shedding above 25000. So, kahani me kuch twist? Be alert today for some directional signal to emerge.

Tata Chem signaled yesterday moved up further. UPL continues to see short covering and is staging base breakout on charts. A move seems likely here.
Hdfc Bank will be dependent on what happens at the policy but is more poised to advance than decline. If positive outcome for financials, then one of the stocks to look at would be JioFin. It is now into a Wellset Bull on Monthly basis also. So, those are swing trade signals.