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Trade setup for Monday 10, February 2020

All you need to know as a trader or Investor

Monday session likely to be in range bound as all data points is in favor of tepid start.

Sensex closed 164 points, higher at 41,141 while Nifty closed at 12,098 lower by 39 points.

Global market also closed in red that indicates muted opening for Indian market.

Trends on SGX Nifty indicate a negative opening for Indian Market.

FII's net sold of 35,023.20 cr. and net purchase of 32,840.12 cr in cash segment which means they are also booking profits on higher levels due to global weakness and to corona-virus fear impact. However on Friday FII's were net buyer and DII's were net seller , which indicates positiveness.

Foreign investors remained net buyers in Indian capital markets

Corona virus death surpassed SARS Death.

Option Analysis:

Maximum open interest on call side at 12,000 of 18 lakh contracts.

Significant call writing was seen at the 12,100 and 12,200strike price

Call unwinding was seen at 11,900 strike price.

Maximum open interest on put side at 12000 strike price of 17 lakh.

Put writing was seen at the 12,000 strike price 3 lakh new contracts gets added.

Put unwinding was seen at the 12,150 strike price.

What to Look For:

Nifty has formed inverted hammer on hourly chart which means that nifty can give positive starts and again due to global weakness market can turn into negative again as on daily chart we we have noticed bearish engulfing. So it is very likely to say that nifty will go in one direction. we can see both side movement.

Nifty can trade in both side in the first session in can give you positive start but do not fall in the trap as there are more chances to take over all up moves by uncertainty in global market and fear of corona virus.

if you have any position on up side advised to book profit on up moves and trade as market go.

Over all market sentiments is depend on news around so be focused on news and take help of technical analysis in making of your trading decision.

We are expecting nifty to trade between 12,000 to 12,150. If nifty goes above 12,120 we may see nifty give show some short time upside rally and if nifty breaches 12,070 it can go further down. So plan your trade accordingly as mentioned above book profit on all incremental.

Disclaimer: All the information shared only for learning purpose, we do not provide any tip or recommendation. Please do consult with your investment adviser before making any trade or investment decision.


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