December 22, 2016

Market outlook

Daily charts
- trend is down on daily charts
- trend reversal level requires close above 8300
- today, markets closed below 8000 (sensex 26000)
- there was no dramatic fall after break of these levels
- AD was negative, VIX up 6%
- option writing support 8000 resistance 8300




5 min charts
- break below previous day's low/ support was sell signal
- I was short from first 5 min.... profits approx 40K


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