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.
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.