July 18, 2017

Market outlook

Daily charts
- trend is up on daily charts
- today, NF opened gap down and closed almost 1% down
- AD was 1:2 while VIX increased marginally
- support 9700, 9400 (swing low)
- ITC, the stock with highest weightage in nifty closed 12% in the red and contributed approx 100 points to nifty's fall today.

5 min charts
- markets open gap down below yesterday's support
- some buying happens but it is weak
- shorting areas are as shown.
- expecting resistance near 9860 F

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