February 18, 2015

Market outlook

Trend is still up with small signs of selling coming along the way. Note that since we are looking at a very minor trend, your SL should be adjusted accordingly.

Currently this should be below 8800 spot.

Recent swing low is 8470.. expect strong resistance near 9000 levels where we also have highest open interest in call options this series.

EOD charts:

Intraday charts:

This was a difficult day unless you happened to buy in first 20-30 min and then exited positions at close. For me, this was a breakeven day though initial profits were very high (these subsequently got negated thanks to the rangebound market and the resulting whipsaws).

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