March 17, 2016

Market outlook

Daily charts
- trend is up on daily charts
- strong resistance around 7600 levels
- immediate support 7400-7200 levels
- markets now rangebound for almost 10 days
- option buyers losing money thanks to time decay

Hourly charts

- trend is up on hourly charts
- immediate support 7400

5 min charts

- areas of support and resistance drawn
- break on downside shows hypothetical short trade ideas
- did not trade as I was travelling

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