August 10, 2018

Market outlook

Daily charts:
- trend is up on daily charts
- today NF closed  0.5% in negative 11430
- AD was 1:2
- option writing support 11000

- note that even as markets have moved to 11400+ levels, option writing support has not increased
- this means writers are bullish but expect a small correction such that 11000 will not break




5 min charts:
- traded long as per signal
- got stopped out on down spike
- fortunately did not trade long at green arrow
- no short trades



- later on I came to know from someone the spike was caused by SBIN



15 min charts:
- trend is down
- SL 11480 F



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