March 28, 2016

Market outlook

Daily charts
- today's market reverses 3 days of market movement
- immediate support 7550
- AD negative; VIX up 7%
- below 7600, high chances of trend reversal
- swing low support around 7400
- note I am expecting formation of triangle 
- this means legs of triangle will get smaller and markets more rangebound

Hourly charts
- markets break support formed in past 2-3 days
- I am assuming trend reversal on hourly charts from here on.

5 min charts
- break below initial trading range is sell signal
- arrows show new short trade positions
- cover on trailing SL
- will start trading from tomorrow.

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