Analysis and Trade Plan - 6 March 2019

  • What a rally yesterday? I was bullish but not that bullish. On all conditions, rally needed to extend till 27400, but yesterday was unexpected. I was very light on sold calls, still they got into a lot of trouble. Low volumes gave me some losses but they were manageable as I had profits from puts.

  • Still there are some calls that are on the wrong side but I am expecting a sideways rally with bullish bias. I have taken some Bull Put Spread and Ratio Spread yesterday. Some Bull Put Spread of Nifty will be in profit today, which I will square off to take new positions.

  • SGX Nifty is up by 30 points suggesting a positive opening. I expect market to consolidate after that.

  • Bullish positions were added to Nifty and Bank Nifty.

  • Pain jumped by over 400 points on Bank Nifty and Nifty.

  • PCR jumped over 2 for the first time which is unexpected. Written puts are double the quantity of calls written. Can market do unexpected here? Below are PCR for Nifty and Bank Nifty:

  • At this point, I will stay put because data is abnormal right now. We have to ascertain whether we are getting a decisive break or not.

  • India Vix came below 16 levels yesterday.

  • Rupee and Crude Oil is also stable.

  • I am trading with bullish to sideways bias.

1 March 2019 - 7 March 2019.xlsx

Rohit Katwal

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