Analysis and Game Plan - 17 December 2018

• Dow fell 500 points on Friday but it is not having much impact on SGX Nifty

• From here on technicals are more in play rather than any news event.

• Rumour of buying back in market is there.

• On data front, Nifty futures shed close to half a million OI. Where as put writing was seen on immediate strikes. Call writing was negligible. Suggesting it can be short covering.

• Pain is at 10700 with pcr bullish for Nifty.

• Bank Nifty did not witness much speculation in futures. Call writing and Put writing was normal.

• Pain moved up to 26800 and pcr is bullish at 1.18.

• On daily, 2 hourly and 30 minute charts We are still bullish.

• Crude is struggling around $60.

• India Vix fell to 15.16 which is good.

Conclusion - Trading with bullish bias.

Game Plan -

• I am currently holding 8 lots of bull put spread. Plan to add more above 26950.

Rohit Katwal