How to trade Nifty in RBI event

• FII's bought 2.4 K contract of Index Future worth 99 cores, 6.3 K Long contract were squared off and 8.7 K short contracts  were squared off by FII's. Net Open Interest decreased  by 15  K contract , so FII squared off both longs  and shorts in Index futures also shorts were added almost  in 1:1.8 ratio.

Nifty consolidated today after 3 of big range moves,formed an inside day pattern signalling market is ready for big move tomorrow after RBI policy is announced ,We have Monthly closing tomorrow bulls would like to see a close above 8000. 8088/7909 are 2 numbers should be watched tomorrow.  EW analysis is shown below.Nifty Future premium  came down before

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