April 10, 2015

NIFTY intraday futures chart

- first short trade at circle (test of resistance and failure)
- break of swing low was second short signal (second arrow)
- trailing stoploss hit around 8790-8800 levels
- the SL hit did not convert to a buy signal as breakout bar failed (open = close).
- note stiff resistance at 8820F... all breakouts are failing from this level.
- next week, expect more strength above 8820F.

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