Nifty technical set up before crucial RBI policy

• FII's sold 9.8 K contract of Index Future worth 188 cores ,7.1 K Long contract were squared off by FII's and 1.5 K  short contracts  were added by FII's. Net Open Interest decreased  by 6.6  K contract, so today's rise was used by FII's to exit longs in index futures and enter shorts. Trading Behaviors That Destroy Traders

Nifty continue to form higher high and higher low formation suggesting the trend is up, but is entering the crucial supply area as discussed in Weekly analysis. RBI policy today is clashing with gann date suggesting big move should be seen either today or tomorrow. As shown in Gann Box below

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