Update - 21 January 2019

We have got a breakout. Only resistance now stands at 10970 for Nifty to go past 11000 where it is struggling. We have a huge put writing in Nifty, so i think we will cross it today. In Bank Nifty, resistance was at 27570 which is crossed now. At a swing low near 27400 I added some positions in the morning:

  • I took a simple bull put spread for a benefit of 45+ points.

  • I figured, I just had to make more points with less lots. Since, I do not hold positions in worst case scenario, there is no harm in taking a spread with 300 points as in normal case, I can hedge it with buying or selling. Plus time is with me. Spread hedge is to save my self from overnight black swan event.

  • I have taken 10 lots in -27200 & +26900.

I am not taking any more positions for today.

Rohit Katwal

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