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Bank Nifty EOD Update Mar 15 - Eve of Fed Rate Cut Decision!

In Yesterday's post I mentioned "Tomorrow Bank Nifty may move in narrow range and protect today's Top/Bottom awaiting Fed rate decision" Bank Nifty behaved exactly that way forming Inside Bar on candlestick.
On Hourly chart Bank Nifty took support on 18.75 degree angle and bounced up and again came to angle line. From Gap Up move on 14th Bank Nifty is moving within 2 angles(26.5 and 18.75).
Tomorrow morning Bank Nifty may open Gap Down if Fed hike rate(i.e. almost certain). But as we saw on several occasions, Index gives knee-jerk reaction to bad news and then recovers immediately. So we can see similar behavior tomorrow.

Bank Nifty may be volatile tomorrow due to Weekly expiry.
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