Analysis and Trade Plan - 7 March 2019
Data still seems bullish. If one is looking at news, then it may be another failed attempt of taking out 11100 by nifty and 27700 by Bank Nifty.
With question marks on Air Strikes by India to Rafale allegations, it needs to be seen whether Modi Government can save its image that has been made for the last few days.
US trade deficit with China has increased to 10 year high. China exports are falling.
Crude Oil has started moving above $66. But Rupee is strong. Thats a relief for markets.
Data wise, long positions were added to both Nifty and Bank Nifty.
PCR is still bullish although we cannot rule out consolidation.
Max pain is moving up for Nifty and Bank Nifty.
I have both bullish and bearish positions which I will be closing slowly.
I am looking at a sideways expiry today.