July 17, 2018

Market outlook

Daily charts:
- trend is up on daily charts
- today NF closed 0.6% positive at 11008
- AD was 10:7

- option writers still bullish
- highest OI addition was in 11000 put strike
- overall highest OI is still at 10600 put level



5 min charts:
- first hour range was too big to wait for a trade
- traded long in circled area and then added more at next 2 arrows
- here risk was lowest
- incidentally last buy arrow was breakout on first hour range
- covered around 3 pm


- traded total 12 lots in 2 accounts... profit could have been more had all long positions been taken in first trade




Hourly range breakout trade
- those who traded first hour range breakout would have earned approx 25 points in nifty futures

- note: where range is big, choose some other convenient SL ... say 10980 F or 10960 F.


Kplswing indicator chart

- first signal stopped out because of SL... I did not trade this
- next signals profitable

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