May 25, 2015

NIFTY futures intraday charts

- initial bias was bearish as markets broke previous day's support
- action in first 4-5 bars of the day (first box) showed no buying support from bulls
- break of support followed by no buying means one can take short with SL at day's high
- trailing SL shifted down during day
- exit at close.

- tomorrow, consider long above 8400F only.

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