December 4, 2014

Market outlook

Trend is up and will reverse on close below 8300.

Signs of increasing volatility in the region between 8500 and 8650 spot.

I am also looking at trendline support as shown on the chart.

Option writing shows increasing support at 8500 and diminishing resistance at 8700 levels... this is a bullish sign.

EOD charts:

Intraday charts: shows the volatility ... note that this is not much but more than what we have seen recently.

Green lines show support and resistance areas whereas the arrows show possible trades on break of the support/ resistance lines.

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