Analysis and Trade Plan - 2 April 2019

• Dow Jones closed positive yesterday with 1.27% advance. It can raise sentiment a little.

• SGX Nifty is sideways right now. And as I write it has shot up by 30 points.

• Crude Oil has started moving up and is near $69.

• Nifty seems to be stuck between 11650 and 11700 for some time.

• Although pain is moving up, we may go a little sideways now before moving up.

• Nifty PCR at 1.07 is sideways as of now.

• Nifty futures witnessed long unwinding.

• Technically we may hit 11500-11550-11600 before moving up.

• 11700 is a strong resistance for now based on option data.

• Bank Nifty seems week as there was call writing post 30700.

• Future activity was also dim.

• Bank Nifty pain is moving up every day but PCR is at 0.71 which is bearish. It can turn once the bull run continues. I will look for reversal signal near 29900-29800-30000 levels.

Details of my trades are shared below:

1 April 2019 - 4 April 2019.xlsx

Rohit Katwal