December 15, 2017

Market outlook

Daily charts:
- trend is up on daily charts
- today, NF opened gap up and closed 0.8% in positive at 10333
- a doji was formed indicating supply on top/ no new buying
- close was around the upper trendline
- there is no breakout as such so markets can move in either direction next week
- note in 2 months, nifty has not gained anything (has actually lost 2 points)
- option writing support 10000

5 min charts
- tight trading range
- tried a short trade... got stopped out
- short trade around circled area would have given some profit

- if positionally short, today's high is the SL.

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