April 6, 2016

Market outlook

Daily charts
- trend is up on daily charts
- decisive close below 7580 spot will imply a reversal
- option writing support 7500 resistance 8000
- today markets formed a small bar without breaking recent low
- AD positive; VIX dropped 3%

Hourly charts
- more downsides below 7600 F
- resistance 7660 F

5 min charts
- initial trading range provided good support/ resistance during the day
- good day for micro swing traders

My trades
- Waited till 10.30 and then called it a day... Did some TP shopping.
- tomorrow shd be an interesting day.

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