May 19, 2014

Market outlook

Consider trend as up with SL at 7000. This level will become important to me in the days to come as chances of trend reversal will increase if this level is broken.


Looking forward I do not expect much action to happen in nifty... it may remain rangebound for some more time before we have any big move.

Option writing points to strong resistance at 7500 (MAY and JUN series).

VIX maintains its down journey having tanked from 38 levels to 20 levels.


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