Analysis and Trade Plan - 30 October 2019

  • I have bought some pure bullish positions after a long time.

  • While Nifty is moving ultra bullish, Bank Nifty is slow this time.

  • For the past two days when Nifty future is witnessing long buildup, Bank Nifty is just making a short covering rally. A visible slow down in Bank Nifty momentum can be seen.

  • Nifty was making a flag pattern from which it broke out on Mahurat Trading and followed yesterday.

  • Heavy put writing was visible on Nifty and Bank Nifty on all strikes.

  • On Nifty call unwinding was seen to the tune of 20 lakh where as 40 lakh fresh contracts were added. On Bank Nifty balance was there as against 38 lakh calls 49 lakh puts were added.

  • Pain is moving up for Nifty and Bank Nifty. PCR is also bullish.

  • FII and DII were collectively buyer of 1000 crore yesterday.

  • The rally is based on news source and not some actual news on Budget so we might take a pause from the rally.

  • Market may take a pause due to upcoming Federal Reserve meet and its outcome today night.

  • SGX Nifty is trading flat which is good for my positions right now.


I am trading with a bullish bias with cap on upside movement. If any thing, my 11800 straddle can come in danger which I am ready to adjust.


Rohit Katwal


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