Analysis and Trade Plan - 5 March 2019

Updated: Mar 5, 2019

  • I am holding a straddle right now. I have sold Bank Nifty Puts of 26500 and Nifty, Bank Nifty calls of 27500, 11000, 11050. I will see if they need exit on Wednesday to enter into fresh position. The spread is already in profit right now.

  • I am expecting a normal opening for market.

  • Indo-Pak tensions have stabilized to some extent.

  • SGX Nifty is hinting at a sideways opening.

  • I am also keeping a close watch on Rupee and Crude Oil as both are consolidating. They are in comfortable zone right now.

  • Nifty witnessed put writing at 10800 indicating support. There was some call writing at 11000.

  • Overall trend seems bullish with PCR at 1.43 and Pain moving up.

  • Bank Nifty witnessed long buildup in futures along with moderate put writing.

  • PCR for Bank Nifty is also bullish. Max pain is yet to move up which is hovering at 27000.

  • Overall bias is bullish right now. I will still give a miss to trading till 11:30 am.

Note - There was confusion over trading holiday. I knew it was Shivratri Holiday, but then I checked NSE Website and it was saying 4 March, 2019 as next trading day. Then at 08:30 am I confirmed from broker that market is closed and hence an early analysis.

1 March 2019 - 7 March 2019.xlsx

Rohit Katwal

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