October 27, 2016

Market outlook

Daily charts
- trend is up on daily charts
- today markets closed flat, AD was negative
- VIX down 3%
- markets still within falling channel
- breakout from channel will be bullish
- option writing support 8500 resistance 9000 NOV series
- OCT series same levels and these were never broken









5 min charts
- trading signals as shown on the chart
- did no trades this week; will start trading next week onwards.


3 comments:

  1. 8490 is strong support level, if we breach this, 7740 is the next support seen. So if a downfall is there, it will be big one approx 800 points. Have open position with 8200 PE

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    Replies
    1. Yes... 8500 is important for quite some time. Will trade positional short only on break of this level.

      Delete
  2. Anonymous cannot be ruled out looking to the current INHERENT strength of the market.Lets hope not.

    ReplyDelete