Analysis and Trade Plan - 19 March 2019
Key news to watch on 20th March is Federal Reserve Monetary Policy meet.
In last two days, we have witnessed some selling coming back.
Nifty and Bank Nifty future did not witness any further long addition.
Respective PCR are also in sideways zone.
Max Pain had been moving for the last few days and I sense it stabilizing at 11400 for Nifty and 29500 for Bank Nifty.
Yesterday, compared to Nifty, Bank Nifty was highly volatile. I hit some losses. Then I shifted my positions to Nifty.
India Vix has risen above 16 once again.
Rupee is gaining strength every day and might be the reason that we might be bullish today also.
After such a rally, there is a cool off and backed by data, I think we have entered a sideways phase.
Here are my open positions: