Analysis and Trade Plan - 19 January 2019

• SGX Nifty is up by 20 points hinting at a normal opening.

• Rupee again weakened a little and technical formation is pointing towards dollar strength.

• Lately Crude Oil has gone bullish and is trading above $66 which is not good.

• In other news, RBI has decided to pay ₹28 Billion dividends to government. How would it impact market is not known yet. It can be positive.

• A lot of shorts were added to Nifty Futures.

• Pain is down at 10700 and PCR at 0.43 is bearish. Vix is touching 18 so, it is better to be in sell mode.

• 10700/10800 witnessed a lot of call writing while put writing was negligible.

• Bank Nifty is also bearish now on all time frames along with data.

• Pain is slowly moving down with PCR bearish.

• Option writing is not significant but overall trend is down.

• I am planning to Condor today. With rise, I will write bear call spreads. With fall, I will write bull put spread. I will try to make profit when market expires between my points.

Rohit Katwal