Analysis and Trade Plan - 16 April 2019

  • SGX Nifty made a swing low yesterday and now it is +30 and it can lift sentiment a little at market opening.

  • Dow Jones remained sideways the whole day.

  • Crude Oil and INR are in safe zones right now.

  • Yesterday session in Nifty and Bank Nifty was tight and volatile. It tried to trap either to upside or downside thrice.

  • I had to exit my positions only to re enter again.

  • Activity in options is dim for Nifty and Bank Nifty. Bank Nifty witnessed put writing more than call writing. On Nifty, balance was equal.

  • Nifty future added long positions yesterday and is bullish.

  • Technically, we are bullish on all time frames right now.

  • Worrying point is India Vix, which is hovering at 21.

  • Max pain for Bank Nifty is steady for past few days at 30000. For Nifty, max pain is hovering near 11650.

  • We need a bullish day to be back into bullish territory for both technical and data wise view.

  • On break of yesterday's high of 30170/11710, I will add bullish positions.

Here are the details of my trades:

12 April 2019 - 18 April 2019.xlsx

Rohit Katwal

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