Analysis and Trade Plan - 3 December 2019

  • I am expecting a sideways to bullish market before start of any down or up move. Hence the twisted sister strategy which is fully protected to downside and partially protected to upside.

  • While lower time-frame charts are sideways right now, daily charts are still bullish.

  • Nifty Futures have support at 12026-12064.

  • In weekly options, positions are being built at 12000 and 12100 strikes. I am keeping a close eye on 12100 CE. If it breaks and OI falls, then further up move will be expected.

  • Monthly options are also showing bullish bias.

  • Bank Nifty has a little wider range right now with support between 31330-30830.

  • Positions are being built right now on Bank Nifty but trend remains bullish. It may be evident from the fact that for last two days, Nifty and Bank Nifty was in negative territory but still failed to go down significantly and bounced back.

  • PCR is confirming the ongoing trend right now.

  • India Vix is at considerably low levels, but volatility is still there.

  • FII/DII net activity was -977 crore with FIIs as seller of 1731 and DIIs as net buyers of 754 crores.

  • At lower levels, I will take some calendar spreads today if 12100 is crossed.


Rohit Katwal

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