Analysis and Trade Plan - 17 Jun 2019

• On Friday, India retaliated with tariffs on USA. It resulted in market breaching 11800.

• Protests again extradition bill in Hong Kong also added to the bearishness.

• This week, Fed Meet is scheduled on 18th and 19th Jun 2019 which will be crucial in giving the direction.

• Nifty Futures witnessed addition of shorts. PCR at 0.51 is bearish and max pain is also moving down.

• 11900/12000 Calls witnessed extensive call writing of more than 1 Million each.

• Important level to look out for are 11880/11900 and 11770.

• Bank Nifty Futures also witnessed short addition. Max pain at 30800 is starting to move down with 0.54 PCR hinting at bearish bias.

• Call writing was extensive from 31900-31300 on Bank Nifty with Put Unwinding at all immediate strikes.

• Given the volatile nature of market, I will execute position post 02:00 pm to save myself from any whipsaws that may arise from intraday volatility.

Rohit Katwal