February 18, 2016

Market outlook

Daily charts
- trend is down on daily charts
- lower swing high developed around 7250 spot
- sustaining above this will be bullish




Hourly charts
- trend is up
- swing reversal level 6950 F
- more strength in rally above 7250 F


5 min charts
- NF traded in range
- failed to hold above the initial range
- breakdown did not invite much selling
- some more selling might happen tomorrow if today's high not taken out.



My trades
- took 2 trades in NF and RELCAPITAL
- both loss
- I am surprised I took the trade as I had to leave terminal at 10am
- looking forward, expecting some disconnections till end of this month


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