Analysis & Game Plan- 4 January 2019

  • Dow fell 600 point yesterday.

  • Effect is not that much visible on SGX Nifty. We may fall post opening.

  • There are talks that US Parliament has passed bill to end government shutdown.

  • US-China representatives will be sitting for a talk on 7-8 January.

  • This is again going to be a volatile and tough week.

  • Nifty added shorts yesterday.

  • India Vix again moved to 16.79.

  • Max pain is slowly moving down and is now at 10800.

  • 120 point range is the new normal for Nifty these days.

  • Call writing on nifty was huge on 10800/10900/11000.

  • Bank Nifty on the other hand is resisting fall.

  • Max pain is moving down along with pcr.

  • Call writing is more. But given the way it is drifting down, positive news will bring in a swift up-move.

  • Keeping position overnight is highly dangerous today. There is nothing wrong in India right now, but global uncertainty in US China can cause sleepless nights.

  • I might take 5 lots in short positions by eod on lower margins depending on market or I might skip it all. It will depend on premiums and current situation.

Rohit Katwal

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