November 24, 2016

Market outlook

Daily charts
- trend is down on daily charts
- today markets closed in the negative
- AD was flat, VIX down 5%
- today's close was below 8000 level
- weekly close below 8000 may lead to more weakness
- close above 8100 will be bullish

5 min charts
- last 2 days markets were going up but there was a lot selling intraday
- this had the effect of a gap down opening today
- but last 2-3 days lows are still holding
- did nothing today in anticipation of wild (expiry) swings

1 comment:

  1. KPL

    Take it from me Nifty will close this month above 8100. 7938 is a good support we have .