October 4, 2016

Market outlook

Daily charts
- trend is up on daily charts
- today, markets traded in a small range (doji)
- close was positive, AD flat, VIX down 4%




5 min charts
- rangebound trading
- RBI policy means some wild swing expected
- did nothing/ could not find any good trade


7 comments:

  1. what would be the reversal point on the downside will it be 8700 nifty to short

    ReplyDelete
    Replies
    1. I will be bearish below 8500.

      But a short trade in futures, we will need tight stoplosses so one will be better off using 15 min charts and not EOD.

      Delete
  2. So overall what you sense here, Nifty not reacted much after the RBI rate cut.
    From here it will go touch 9000 or 8500 first, please share your view. Thanks.

    ReplyDelete
    Replies
    1. Trend is up till it breaks 8500 on closing basis.

      Delete
  3. Will it give a chance to cover @29sep lows

    ReplyDelete
  4. If it closes above 9000,it will very difficult to sustain.Mostly it will prefer 8500 first.

    ReplyDelete