September 28, 2018

Market outlook

Daily charts:
- trend is down on daily charts
- today NF closed 0.4% in negative at 10930
- AD was 1:5
- option writing support 10800 resistance 11500

- note large volatility in past few days
- markets may be forming a short term bottom

- close below 10850 will negate this view

5 min charts:
- traded long as per arrow
- note that in spot, nifty was close to recent lows
- exited on trailing SL

- short trade as per arrow
- exit as per trailing SL

- may not trade on Monday

Same chart with kplswing indicator with N=5

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