October 28, 2014

Market outlook

Markets close above 8000 first time this month. So while technically the trend has shifted to "buy" on EOD charts, one has to consider the previous day's bar high at 8060 showing selling.

EOD charts

Intraday charts

On 5 min charts, not being able to sustain above 8020 spot can lead to weakness.

On hourly charts, trend will revert to sell on close below 7980 spot.

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