May 27, 2014

Market outlook

Expecting formation of a triangle... current structure implies one small up leg pending followed by another leg down.

Breakout from triangle will provide clarity of direction and thus an indication of possible trade.

Till the time breakout happens, stay away from market as there will be up down movements.

Since the height of triangle is 430 points, expect a move of this magnitude once the breakout happens.

Direction of breakout unknown.

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