November 19, 2014

Market outlook

Trend is up with support at 8300. Swing low support is at 7700.

Resistance is expected around 8450-8500.

Sustaining above this will have bullish implications with rally possible to 8900.

Option writing points to support at 8300 and resistance at 8500.

EOD charts... 


Intraday charts - 5 min charts shows the areas of sell signals... there were multiple signals today.

These short trades got stopped around 8385 spot.

Since the broader trend is up (till it reverses), I will not be trading the short side.


No comments:

Post a Comment