February 3, 2016

Market outlook

Daily charts
- nifty stopped out from long trade
- the low of breakout bar was considered as SL
- now I will consider markets to be in  a range
- in other words, do nothing till you have a range breakout
- option writing clues point to strong resistance at 7600

Hourly charts
- long trade gives exit at no profit no loss
- nothing to do for a while

5 min charts
- markets rangebound through out the day
- nothing to do
- anyway I am not trading this week

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