February 29, 2016

Market outlook

Daily charts
- trend is down on daily charts
- today, NF closed in negative; AD was flat
- NF forms a large candle with a long tail
- discarding triangle formation as recent low was violated\
- holding above 7100 will be bullish



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



5 min charts
- volatile day thanks to this budget



My trades
- 4 sets of trades today
- SBIN (overnite/ accidental) short trade of FRI covered in first 2-3 min of day
- bought 7300 call at 53 and sold 7400 call at 32 (positional)
- bought 7500 call at 23 and sold 7600 call at 9 (positional)
- intraday long position in 7200 call covered in loss of 4 points.

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