April 5, 2018

Market outlook

Daily charts
- trend is UP on daily charts (first time since the correction)
- today, NF gained 2% and closed at 10325
- AD was 6:1
- VIX drops 9%
- option writing support 10000
- IMPORTANT - new highs possible if Nifty can sustain above 10600 this year, otherwise new lows possible. Reason: Big H&S on weekly charts.
- the pace of the rally and volumes from here should give hints... will take lot of time though so do not ask questions.

5 min charts
- huge gapup opening of 140 points
- those holding overnight puts would have lost heavily due to 8% drop in VIX
- call buyers benefit handsomely... congrats to those who were holding them
- intraday buy signals as shown

- refer my previous days post on H&S pattern on hourly charts
- this played out but day traders lost 140 points due to gap up

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