October 14, 2016

Market outlook

Daily charts
- trend is up on daily charts
- after yesterday's fall, markets were flat
- AD was 2:1 while VIX showed some drop
- option writing support remains at 8500 for this series.
- watch falling channel carefully next week




5 min charts
- rangebound market
- nothing to do.


3 comments:

  1. The current higher low formation could give hardly 10 points up move consolidating for the whole day.The steam is already lost.so any up move further can not be strong enough to make higher high.It must have to roll down to 8480 to have a nice run up to cross previous day high.I expect 8480/90 to test

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    Replies
    1. Very good analysis... I hope to long in calls around 8500 levels (if it comes).

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    2. Thank you very much sir.The credit for this analysis goes to you as I learnt from you only
      Arvind Modi

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