Analysis and Trade Plan - 11 April 2019

  • Currently I am holding no positions.

  • PCR is bearish for Nifty and Bank Nifty.

  • Max Pain is steady for Nifty and Bank Nifty.

  • Call writing was visible on Nifty and Bank Nifty.

  • This whole week, I traded with pure Price analysis.

  • Currently, I don't think market is in any down trend. On weekly basis we may be bearish, but we are definitely bullish. On 2 Hourly charts, if one looks closely then we have a flag formation in Nifty and Bank Nifty.

  • Looking at global factors, Dow Jones ended sideways.

  • SGX Nifty is flat.

  • One factor that is worrisome is India Vix. It is hovering at 21.13. We have to be cautious of a swift move.

  • Crude Oil touch $72 yesterday which is not good.

  • INR is stable and should continue to be stable. As long as crude and INR are moving against each other we should be good.

  • I will do expiry trading today but will miss the first two hour. I need to know where the wind is blowing.

  • ADR of HDFC Bank is down 1%. Bank Nifty can open negative due to that.

  • Nifty has a decisive range of 11700 and 11550.

  • Bank Nifty has a decisive range of 30180 and 29750.

  • Any meaningful action along with vix power can come if Nifty and Bank Nifty breaks this channel.

Here are the updated positions:

5 April 2019 - 11 April 2019.xlsx

Rohit Katwal

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