Analysis and Trade Plan - 30 April 2019

• Dow Jones hit record high yesterday.

• I cannot get the data for SGX Nifty, but some sites mentioned it to be -27. Looks like we are set to open little negative.

• Crude Oil fell sharply in last 2 3 trading sessions. Even Rupee is getting strong. It is likely to create a bullish momentum.

• Net future position on Nifty and Bank Nifty were long on Friday.

• Max Pain at 11700 for Nifty is steady. Pain for Bank Nifty at 30000 has started to move up.

• 11700 saw a put writing of 1 million on Friday. Bank Nifty also witnessed put writing on all counters.

• Overall PCR is bullish for Nifty and Bank Nifty.

• Nifty needs to cross 11760/11800 with momentum for any further upside or we can fall from this top.

• Bank Nifty needs to trade above 30100 for any further upside. On the downside 29800 will be a crucial level to watch out for.

• I am trading with a sideways to bullish bias.

Detail of my trades are given in the link:

26 April 2019 - 2 May 2019.xlsx

Rohit Katwal

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