February 26, 2016

Market outlook + weekly charts

Weekly charts
- trend is down on weekly charts
- next support around 6400 levels





Daily charts
- trend is down on daily charts
- today, NF closed in positive but AD was negative
- VIX was down 4%
- I am expecting a 5 legged triangle of the 4th leg MAY have started
- condition is recent lows should not break
- breakout from triangle will be bullish


Hourly charts
- trend is down on hourly charts
- cluster of supports between 7000 and 6900
- sustaining above 7100 may be bullish


5 min charts
- market failed to sustain after gapup opening
- traded in first hour through out the day



My trades
- did not trade nifty today
- stock trades was breakeven.



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