NIFTY TREND ON WEEKLY EXPIRY DAY

Nifty after making a gap down on Monday and forming a lower high and lower low, turned positive on Tuesdy and Wednesday and formed higher high and higher low. The close is exactly near last expiry  and above 11057. Today the range could be 11070-11194. This is based on the assumption that nifty may not disturb the higher high higher low formation on expiry day. So the downside looks limited if it does not break 11064 - yesterday low till 1 PM. If it breaks then the expiry close could be between 11014 -11057. On the higher side 11194 is a possibility if the outcome of RBI meeting is positive. Avoid shorting index unless it breaks 11064 in the first 15 minutes or later during the day.