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.