April 20, 2016

Market outlook

Daily charts
- trend is up
- market forms second hanging bar but size is small
- the tails are formed by selling followed by buyers stepping in and buying.
- AD was flat
- support 7800 resistance 8000

Hourly charts
- trend is up
- support 7890 F

5 min charts
- markets rangebound for better part of the day
- only one short trade possible as per the boxes.

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