March 3, 2016

Market outlook + my trades

Daily charts
- trend is up on daily charts
- strong resistance around 7500-7600 levels
- option writing support 7000
- above level is NOT going up... ideally it shd be 7200/7300 by now

Hourly charts
- trend is up on hourly charts
- visually obvious higher swing low missing so far.

5 min charts
- markets initially rangebound
- attempted 2 short trades near upper end of range/ got stopped out

My trades
- attempted a short trade in puts... trailing SL hit
- short trade in 7700 call still open. Loss now 14K.

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