February 16, 2015

Market outlook

Trend is up even as markets form higher high higher low. Note that today closing was near low.

Close below today's low 8790 for 2-3 days can lead to a small correction. Any correction lasting more than 2-3 days will lead to doubts about this rally.

Option writing clues point to resistance at 9000 levels.

EOD charts

Intraday charts - rangebound markets

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