July 18, 2016

Market outlook

Daily charts
- trend is up on daily charts
- strong resistance emerging near 8600 levels
- option writing support 8400; next support 8200
- today markets closed in negative; AD negative




5 min charts
- breakout from initial trading range was a failure
- note resistance around 8600 levels
- this was there on Friday also
- short trades shown at 3 areas
- first on breakout failure, others on new lows



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