March 30, 2016

Market outlook + my trades

Daily charts
- trend is up on daily charts
- reversal level 7550 spot
- today markets were up 2%
- AD strongly positive, VIX -5%.
- option writing resistance 8000 levels

Hourly charts
- trend is down on hourly charts
- reversal level 7750 F

5 min charts
- breakout from box was bullish
- however candle had a long tail indicating selling
- this was negated and converted to buy around 12.20 bar
- cover at close

My trades
- I traded short on breakout failure
- covered loss of 10 points
- did not take long.

There was some initial problems I faced today. Login to trading terminal kept failing thru/ hanging for 3-4 attempts. I suspect this was due to software corruption so reinstalled terminal by 10am. However order execution was a problem and when I placed a buy order, the sell order (SL) was not visible in the system. This got solved on its own by 1 pm but then I was not too keen to trade when terminal + net was patchy.

Hyptothetical long trade around 12.20 would have given 40-50 points profit in futures.

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