Today RBLBANK is going to be in lime light with negative impact.
Also may impact banking sector specially small private banks ie. bandhan bank , AU small finance etc.
Don't be trapped by buying RBL on rumours.
My strategy in RBL will be, either find short opportunity, or simply avoid.
Nifty is taking resistance at 20 EMA 17200.
Immediate support 16800.
Banknifty is facing resistance at GAP & 200 DMA.
Sustain below 34800 Banknifty may fall towards 34400 - 34200.
FII sold put index put 32000 contact and unwinded long index call 24600 contact.
It seems FII were betting on range bound move 17200 - 16800 for couples of days.
So IT may provide cushion to nifty today.
I would like to keep FSL on buying radar and INDHOTEL on selling radar for few days. #TradingUniversity