October 6, 2016

Market outlook

Daily charts
- trend is up on daily charts
- markets trading in a range for some time
- today markets closed in negative; AD negative.
- call writing resistance at 9000



5 min charts
- breakout from initial trading range was buy signal
- this was weak at best as mkt is trading within the 3 day range
- short trades are shown with arrow
- first arrow is where a price action would initiate a short
- second arrow is where a trend follower would take a short
- cover at close


15 min charts
- sell signal for a positional trader
- stoploss 8820 F


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