Analysis and Game Plan - 20 November 2018
Yesterday, while the Nifty and Bank Nifty was up, India Vix was surprisingly up by 4.93%.
SGX Nifty is down by 30 points.
Dow Jones witnessed a fall of -1.56%, but we are not following dow these days. Else fall on SGX nifty would have showed it.
Rupee had further strengthened.
Crude is also making a base at lower levels.
Nifty futures added long positions along with put writing at every near strike and call writing at 11000.
Pain and PCR is bullish.
Technically, we are bullish on Nifty.
Bank Nifty is inching upward every day, but there is not much speculation on futures.
Pain and PCR is constantly moving up which is bullish.
There was not much speculation on Options front even.
Any impact of whether RBI Government meet was positive or negative will be known today.
Conclusion - Trading with a bullish bias.
Game Plan -
If market gapsup and move higher, I will write a bear call spread at higher level and create a iron condor of my overall position.
Gapdown will be a tricky situation for my positions. Might add some lower bull put spread or a put calender based on momentum.
Flat opening, will write more bull put spread if price takes support.
Here are my open positions: