July 5, 2016

Market outlook

Daily charts
- trend is up on daily charts
- today markets formed first lower high lower low
- after 4-5 days of strong rally, this is normal/ expected/ good
- correction of 2-3 days is good for market
- do not expect 8200 to break/ strong support at 8000 levels

5 min charts
- break of initial first hour range attracted buying
- the high (8382) and low (8345) formed till this time did not break throughout the day

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