January 16, 2018

Market outlook

Daily charts
- trend is up on daily charts
- today, NF closed 0.38% in negative at 10700
- AD was 1:5... quite bad
- today there was reduction in put positions and increase in call writing positions.
- however highest open interest is still at 10500 put.

- we have one hanging man, one shooting star and red bar today

- let us see if correction continues

5 min charts
- bias was bearish thanks to hanging man and shooting star formed in 2 days
- took short trade at first arrow
- covered around 2.30 pm
- small trading day

Note expanding wedge/ triangle... trade in direction of breakout ...

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