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