June 20, 2016

Market outlook

Daily charts
- trend is up on daily charts
- for the all noise in the market, trading range is still limited
- today, markets opened gap down but closed near day's high
- intraday range was 120 points, AD was flat
- option writing support 8000 and resistance


Hourly charts
- no clear trend seen
- markets still trading in a range


5 min charts
- gap down opening but near good support on hourly charts
- first bar was biggest bar of the day
- this bar could have been considered as an aggressive buy zone
- I was long around 11.40-12.00 region


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