July 28, 2014

Market outlook

Consider trend as up as long as nifty trades above 7450 spot.

Incidentally I am working on some AFLs so this is the chart with the latest kplswing indicator. Ignore the last row "quantity to trade" as it is dynamic and designed for cash only.

On hourly charts we got a sell signal as markets broke the important support

On 5 min charts, we had a sell on break of initial trading range (7775 spot)... this trade got stoplossed at a profit of 30 points at 7745 spot. Note that I am not using kplswing indicator because of increased whipsaws on smaller timeframes.

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