November 8, 2016

Market outlook

Daily charts
- trend is down on daily charts
- today markets closed in positive; AD was negative
- VIX was up 1.5%
- second day of higher high higher low (in context of this correction)
- option writing support exists around 8200
- contra view: NF trading in falling channel breakout from which will be bullish.

5 min charts
- rangebound market the whole
- breakout in last 10-15 min

Inverted H&S on 15 min charts

Holding above 8575 F will be bullish... SL 8500 F.

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