Analysis and Trade Plan - 8 May 2019

  • I have sold Bear Call Spreads of Nifty and Bank Nifty above 29900 and 11700. Most likely scenario is I won't have to adjust them. Saving me brokerage cost.

  • India Vix climbed above 26 yesterday.

  • Dow Jones fell 1.7% yesterday due to US China escalation of trade war.

  • SGX Nifty is already down by 60 70 points.

  • Yesterday's gapup was a trap and when it didn't sustain after an hour, I executed more bearish positions. I got rewarded for it.

  • My current max profit is expected to be around ₹28,000/-.

  • I will do expiry trading tomorrow to increase this profit.

  • Crude Oil and Rupee movement are not the cause of concern right now.

  • For Nifty and Bank Nifty Futures, shorts were added yesterday.

  • Call writing was visible across all strikes.

  • PCR is down to the lowest level of .39 for Nifty and Bank Nifty.

  • It is safe to assume that trend is going to remain down for some time now.

  • I will wait and watch today through out the day. I might roll down some positions if Market rises for a better premium.


Rohit Katwal

Telegram Channel: https://t.me/rkatwaltradingupdates



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