February 16, 2016

Market outlook

Daily charts
- trend is down on daily charts
- complete reversal of yesterday's rally
- markets erase all of yesterday's gains
- AD negative; VIX up 3%

Hourly charts
- no clue on hourly charts
- trend is still up
- however fast reversal of previous day's gains not good.

5 min charts
- break of initial trading range was short signal
- I did not trade this as trend on higher time frame was up

My trades
- did nothing today
- still holding to positional short trade in nifty puts
- loss today here is 10K - this MTM and gets offset against previous day's gain

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