November 23, 2016

Market outlook

Daily charts
- trend is down on daily charts
- today markets closed marginally in positive
- advance decline was good, VIX dropped 2%
- recovery looks weak given the tails being formed in last 2 candlesticks
- option writing giving mixed clues
- highest OI is at 8000 put followed by 8000 call so market can swing either way




5 min charts
- markets trading rangebound
- any bounce is being sold into
- did nothing today


2 comments:

  1. Sir good morning,kindly explain on this recovery looks weak given the tails being formed in last 2 candlesticks thnx

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    Replies
    1. See intraday charts... rally is being sold into as a result of which tails are formed on EOD charts.

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