August 12, 2015

NIFTY futures intraday charts

- note overall trend is down so bias is towards shorting
- open below yesterday's swing low was short signal
- in addition, there were 3 short signals as per the boxes
- first 2 boxes showed inability of market to sustain above 8450 levels
- third box is a sell because break of double bottom intraday support

And this is the hourly chart - markets nearing good support here.

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