Analysis and Game Plan - 4 December 2018

  • We are not going to see much speculation till the RBI monetary policy is concluded and announced.

  • Net future position in Nifty is long.

  • PCR and Pain remained unchanged for Nifty.

  • Option writing was negligible apart from some put writing at 10500 and call writing at immediate counter. OI was not that great.

  • Trend is bullish on daily and 2 hourly charts. Trend on 30 minutes chart has gone sideways and needs to come out of 10830 and 1095. Between that we will remain sideways.

  • Overall trend on Bank Nifty remains bullish.

  • There is not much speculation at the moment as market awaits RBI's commentary post meeting.

  • Ga-pup helped pain move up to 26800 but pcr was subdued at 0.92.

  • Overall call writing was more than put writing.

  • On 30 minutes chart we are sideways between 26750 and 27000.

Game Plan:

I am holding some bear call spreads for 38 points. If I achieve a profit of 22-25 points, I will exit and convert it into diagonal call calendars or diagonal put calendars depending on where the bank nifty is taking support or resistance.


Rohit Katwal

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