February 15, 2018

Market outlook

Daily charts
- trend is down on daily charts
- NF today closed 0.4% in positive at 10545
- but AD was negative at 1:3
- in fact AD was nefact even when nifty ws near day's high
- VIX down 5% ... cannot make sense of this
- option writing support 10500-10000

- close above 10600 spot can be bullish for next week.




5 min charts
- breakout from range was buy signal
- covered around day's high
- note 10620 F is a known resistance area
- the breakout bar also had some selling (arrow)

- failed to trade short on the first big redbar of the day
- this was actually a safe trade



15 min charts
- yesterday sell signal generated
- SL 10635 F

- if SL kept at 10600F, then sell signal whipsawed
- and buy signal opened with SL 10455 F

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