Analysis and Trade Plan - 30 April 2019

  • Dow Jones hit record high yesterday.

  • I cannot get the data for SGX Nifty, but some sites mentioned it to be -27. Looks like we are set to open little negative.

  • Crude Oil fell sharply in last 2 3 trading sessions. Even Rupee is getting strong. It is likely to create a bullish momentum.

  • Net future position on Nifty and Bank Nifty were long on Friday.

  • Max Pain at 11700 for Nifty is steady. Pain for Bank Nifty at 30000 has started to move up.

  • 11700 saw a put writing of 1 million on Friday. Bank Nifty also witnessed put writing on all counters.

  • Overall PCR is bullish for Nifty and Bank Nifty.

  • Nifty needs to cross 11760/11800 with momentum for any further upside or we can fall from this top.

  • Bank Nifty needs to trade above 30100 for any further upside. On the downside 29800 will be a crucial level to watch out for.

  • I am trading with a sideways to bullish bias.

Detail of my trades are given in the link:

26 April 2019 - 2 May 2019.xlsx

Rohit Katwal

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