February 11, 2016

Market outlook

Daily charts
- trend is down on daily charts
- NF breaks 7200 and loses 3% in a day
- AD negative; VIX up 15% - option writers happy
- option writing resistance 7500; no clear support
- support as per charts 6400





Hourly charts
- trend is down on hourly charts
- swing reversal level 7300 levels


5 min charts
- chart is a sell from the time 7200 broke
- cover on close
- today, I covered short positions in nifty and wrote 7300 calls in last 30 min of the day


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