February 23, 2017

Market outlook

Daily charts
- trend is up on daily charts
- past few days, selling pressure seen in market
- advance decline is not supporting rally
- option writing support 8500 resistance 9000
- high chances of correction
- but VIX not showing any signs of fear inspite of big weekend

5 min charts
- breakout above first box was buy signal
- break of second box was sell signal/ cover on close

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