September 21, 2018

Market outlook

Daily charts:
- trend is down on daily charts
- today markets closed 0.8% in negative at 11143
- AD was 1:5
- option writing support 11000

- the above does not tell the complete story
- trading range was 500 points
- a big hammer formed

- 10800 to give very good support




5 min charts:
- traded long on 1st and 2nd black arrow
- trailing SL hit - profit in one account loss in another
- ignored short signals as overall bias was bullish
- selloff later on (75 points in 5 minutes) was too fast
- bigger problem was where to keep SL and what qtty to trade
- decided not to chase the fall

- traded long intraday in panic declines in HFC stocks/ recovered loss.



Trade summary in one account... ended day with Rs.263 loss.



Trade summary in second account... ended day with small profit.



15 min charts:
- trend is down
- note wild swing in nifty
- SL management will be tricky as volatility will persist for some more time

- preferred  SL is 11200




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