August 3, 2016

Market outlook

Daily chart
- trend is up on daily charts
- loss of upside momentum
- above means markets today at same place as 2-3 weeks ago
- now immediate support 8470 spot levels
- option writers see limited upside this month

5 min chart
- slightly choppy day with buying at lower levels
- took a long position but scrapped with small gains
- missed 2 short trades (in hindsight)

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