Analysis and Game Plan - 5 December 2018
Dow tumbled more than 3% yesterday. It is going to affect market opening and we may open gap down.
SGX Nifty is already down by -64 points.
Ahead of RBI Monetary policy meet, speculation is not visible.
Max Pain on Nifty is steady at 10700 with pcr at 1.31 while call and put writing is negligible.
Max Pain on Bank Nifty came down to 26700 and pcr at 0.82 while call writing was more than put writing.
Coupled with global rout, we may drift downwards.
I am currently holding bear call spread at 27100 and 27300.
If target is achieved, I will try shifting to a wider call or put calendar today as volatility can increase post RBI meeting.
Here are the updated trades in sheet: