October 12, 2015

NIFTY futures intraday charts

- markets unable to sustain around Friday highs (first box)
- break below 2nd and 3rd box was short signal
- first short trade was marginal profit
- second short trade worked well

Notice that past few days, it has been difficult for markets to rally further from current levels. This will eventually encourage profit booking.

On hourly charts, I am looking for a break of 8100F - this will also be the SL for long positions on hourly charts.

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