June 15, 2018

Market outlook

Daily charts:
- trend is down on daily charts
- today NF closed flat at 10818
- markets formed a hammer showing buying at lower levels
- AD was negative at 7:10
- option writing support at 10700

NOTE: nifty year to date gains are 2.7% - this shows how much rangebound the markets are. However daytraders and swing traders are still making money.

5 min charts:
- resistance at 10835 F was respected (ignore buy signals near resistance)
- support at 10775 F and after a correction, markets recovered sharply
- interesting to note that support at 10775 did NOT become resistance

15 min charts:

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