Analysis and Trade Plan - 9 April 2019

  • Crude Oil has started trading above $70 which is a concern. Any further upside and it will be all over news. If dollar strengthens to ₹70 then it will add to worries.

  • Yesterday's major news event was release of BJP Manifesto. Markets did not like it yesterday. We will have to wait and see if market reacts to it today or not.

  • India Vix shot up to 20 by more than 10% at one point due to increased uncertainty over who will form government. Things are not so easy for BJP and market may be factoring that in.

  • PCR is bearish for Nifty and Bank Nifty. Pain is also moving down.

  • Call writing was visible on Nifty and Bank Nifty with little put writing.

  • I am trading with a negative bias. Earning season will start from Friday post expiry after which we will have some volatile move. Until then I expect action to remain subdued.

5 April 2019 - 11 April 2019.xlsx

Rohit Katwal

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