Analysis and Trade Plan - 16 January 2019

  • We saw a strong move from Nifty yesterday.

  • 10800 was the nearest strike and had an OI of more than 1 Million. Future OI added another 7 lakh in open interest.

  • We also had a triangle breakout, which is good. We may consolidate a little today and shoot up.

  • Nifty and Bank Nifty are slowly steadily headed towards their previous highs.

  • For the day, Bank Nifty had good OI buildup but by settlement, call unwinding was there but put writing was not that great. Bank Nifty is simply not moving along Nifty lines. Which means strength can come since broader market is strong.

  • We may have surprises by market makers as always.

  • Yesterday I created some bull put spread, a call calendar and a put calendar because I am mildly bullish and cannot rule out surprise play.

  • India Vix again came down which is good.

  • Will look to add bullish and sideways positions today. Bank Nifty is also awaiting results due to HDFC Bank so we may go sideways.


Rohit Katwal

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