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.