December 23, 2013

Market outlook

Some signs of selling at higher levels. Last 4 days move is a channeled move meaning a corrective move to previous fall. This means that markets might start correcting now. However advance decline and VIX is not supporting this view.

Intraday charts point to rangebound trading...

Option writing clues point to support at 6000 and resistance at 6500 (JAN series)... this is tentative and figures will change in next few days.

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