March 31, 2014

Market outlook

Second day of hanging man.... this is now a case where selling is happening but bulls are still managing to take markets up.

If long, SL would be around 6640 spot. Swing trade reversal level is 6400.

Incidentally VIX was up by 16% today. This has the effect of making options expensive.

Option writing points to support at 6400... till option writers start writing calls, assume the trend is up.

Next target 7200? Let's see....

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