May 21, 2018

Market outlook

Daily charts
- trend is down on daily charts
- today nifty closed 0.8% in negative at 10517
- AD was 1:3
- option writing support 10500 resistance 10800-11000

- option writers are bullish that 10500 will not break this series.
- even today, open interest increased in 10500 put while market was falling
- interesting to see what happens tomorrow

5 min charts
- short on break of range
- cover at close

- missed a very important clue today and I could have taken a short position near top of range
- this was the first bar where open=high

Same chart with kplswing indicator

No positional shorts as I expect a good bounce tomorrow

15 min charts
- today's high good SL for short trades
- tight SL at 10560 F

No comments:

Post a Comment

Share this...