April 7, 2014

Market outlook

Much expected correction has started or may even be ending!

Today was 2nd day of lower high lower low formation and contrary to popular expectations (dow down 160 points), our markets closed flat with minimal volatility.

I will consider a trend reversal only on break of 6420 or a new swing low. So far this will take some time.

Option writing points to support at 6400 (highest OI) followed by 6600.

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