January 28, 2016

Market outlook

Daily charts
- trend is down on daily charts
- last 2-3 days. markets trading in a range
- stiff resistance around 7550 levels
- option writers bullish that 7200 will not break this series.
- this means limited downsides

Hourly charts
- charts not showing any strength
- below 7400, retest of recent lows possible
- slower fall has bullish implications

Daily charts
- last 2-3 days markets strongly rangebound
- today also it traded within that range
- nothing to do at times like this

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