June 6, 2016

Market outlook

Daily charts
- trend is up
- some consolidation happening past few days
- option writing support 8000 resistance 8400
- today markets were flat, AD slightly negative


Hourly charts
- trend is up
- good support developed around 8150 F


5 min charts
- markets rangebound throughout the day
- first hour hi/ low range persisted till 2pm
- unreliable sell signal (see buying at lower levels)


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