February 2, 2015

Market outlook

NIFTY is at upper end of expanding triangle... pattern implication calls for some more correction limiting itself to 8400-8500 levels.

Option writing points to support at 8600 and resistance at 9000 levels.

EOD charts

Intraday charts

Break of initial supports was a short signal which got stopped out subsequently (first box)... the resulting long trade was profitable though only marginally.

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