Analysis and Game Plan - 12 November 2018

  • I am not holding any positions right now as the trend is not clear.

  • It might be continuation. It might be reversal.

  • Until nifty is between 10520 and 10620, it is difficult to take a direction.

  • Until bank nifty is between 25600 and 25900, it is dificult to take a direction.

  • SGX Nifty suggests a flat opening for our markets.

  • There is not much speculation in nifty for last few days.

  • Call writing was witnessed at 10700 and 10800 level while put writing was seen at 10000, suggesting we might be hitting a resistance and market participants are not anticipating much rise.

  • PCR is bullish and pain is steady.

  • Above 10620, trend is bullish.

  • Longs were added on bank nifty.

  • PCR and pain is getting bullish.

  • Put Writing was witnessed at all strikes.

  • It is better to remain bullish, till bank nifty holds 25600.

  • All the major news right now are speculative and not decisive.

  • Trade War talks are pending at G 20 Summit by the end of month.

  • RBI-Government meeting is on 19 November 2018.

  • Elections in Chattisgarh are due along with other states, impact of which will be witnessed in December.

  • Crude prices are at comfortable level and Rupee is strengthening.

Conclusion - Trading with bullish bias.

Game Plan - Around 26600 to 26750, planning to take 9 lots in bank nifty targetting 30 to 40 points or even less depending on risk factor.

Rohit Katwal.

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