Analysis and Trade Plan - 13 March 2019

  • The way we are going, we may hit 11600 this month itself.

  • Bank Nifty has already broken all time high yesterday.

  • I want to look for some sideways movement but data says otherwise. 1.4 million open interest was added on Nifty Futures today. Bank Nifty added 3.85 lakhs in future open interest. This is any thing but normal. Or I am missing some thing.

  • There are double the number of puts written to every call with PCR at 2.09 in Nifty.

  • Pain for Nifty is at 10250 which is constantly moving up.

  • For Bank Nifty too, pain is moving up and PCR is bullish at 1.67.

  • Rupee is strengthening every day.

  • Crude is stable for now.

  • I will book profit out of some bullish positions today based on targets they have achieved.

  • I will write some call calendars just in case there is consolidation with bullish risk.

  • SGX Nifty for now suggests we will open sideways.

  • Overall trend is bullish so any shorting at this point can be dangerous. We are slowly headed towards 11800 level till the elections. So every dip is a buying opportunity.

Here are my open positions:

11 March 2019 - 14 March 2019.xlsx

Rohit Katwal

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