November 10, 2017

Market outlook

Daily charts
- trend is up on daily charts
- today Nifty closed flat at 10321
- AD was negative
- a hammer was formed
- holding above today's high can be bullish next week
- option writing support 10200 and then 10000

5 min charts
- there were 3 long trades and one short trade
- note horizontal lines denoting yesterday's low and close
- these became crucial trading levels today
- first 2 long trades gave nominal profits (shown with arrows)
- short trade not considered (breakout failure of 10375 F level).
- last long trade was breakout failure of yesterday's low

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