Analysis and Game Plan - 19 November 2018

  • SGX Nifty is suggesting a positive opening for the market.

  • Government meeting with RBI is a major news that should be watched.

  • I currently have no position and woud like to wait before initating a position. We are on retracement top or a channel breakout which can either sustain or fail due to the news.

  • Crude Oil is stable but volatility can come near $70 levels.

  • Rupee has strengthened.

  • Overall things look good for Indian market.

  • India Vix is slowly coming down.

  • Nifty witnessed long buildup. Pain also moved up along with PCR.

  • There was not much option writing, but call unwinding was seen at11000/11100 levels.

  • Bank Nifty was mostly rangeboud and I expect it to touch 26140/26000 before moving any further.

  • Pain and PCR are bullish.

  • Bank Nifty did not have much of the option writing activity.

Conclusion - Trading with bullish bias.

Game Plan -

  • I plan to execute 10 lots today.

  • Near 26140 to 26000, I will add bull put spreads.

  • In case of gapup, I will add some call calenders at higher level, sensing that rally has to exhaust at some place.

Rohit Katwal

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