February 4, 2015

Market outlook

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

Today was the 3rd day of lower high lower low candlesticks.

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

EOD charts:

Intraday charts:

Nothing much to comment... a day of whipsaws except for the last trade (short).

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