October 10, 2018

Market outlook

Daily charts:
- trend is down on daily charts
- today NF closed 1.5% in positive at 10460
- AD was 5:1
- VIX down 9%

- option writing support 10000 resistance 11000
- separate note on this

5 min charts:
- stiff resistance around 10415 F levels
- first 2 breakouts failed
- traded long in circled area
- logic was close to 10415 (resistance now becoming support)
- covered near day's high
- it was a trade which gave small profits

kplswing indicator gave a late entry and no profit no loss

Note that even after a breakout there was hardly any strong rally or short covering. This leads to doubt on the market structure developing or whether market is expecting more pain.

So we have a buy on 15 min charts and no move leading to the SL moving upto 10415 F

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