January 7, 2016

Market outlook

On daily charts,
- trend is down
- NF now nearing double bottom support around 7500
- today markets closed 2% in negative. AD negative
- option writing support 7500 and resistance 8000
- below 7500, doors open for 7200.


On hourly charts,
- trend is down for some time
- swing high/ SL is quite some distance away


On 5 min charts,
- markets open gap down
- break of initial range is short trade
- cover at close.


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