Analysis and Trade Plan - 18 March 2019

  • Weekly Expiry is on 20 March 2019.

  • Indian markets closed strong all the way on friday. SGX Nifty closed 32 points higher.

  • Rupee has finally broken the resistance and is strengthening further. It may head towards 68.30 in coming days. It is good for Indian Markets.

  • Crude Oil is in safe zone for now.

  • Friday, Nifty again witnessed huge buying from market participants. Close to 2 million OI was added in futures which tells the underlying strength.

  • Pain for Nifty has moved to 11400 with highest OI in calls at 11500 and puts at 11200. Based on OI activity also we are bullish and 11300/11350 looks like a safe strikes to sell puts.

  • PCR at 1.59 is also bullish.

  • I have created a straddle on Nifty between 11250/11650.

  • Bank Nifty futures too witnessed long addition.

  • Pain has moved up to 29300 and pain at 1.37 is bullish.

  • Calls of 30000 and puts of 29000 has the max OI.

  • Puts below 29000, will be little safe to write now in current scenario.

  • I have taken a bullish straddle between 28600 and 30000 on Bank Nifty.

  • I am trading with bullish bias right now.

Rohit Katwal

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