October 26, 2018

Market outlook

Daily charts:
- trend is down on daily charts
- today NF closed 1% in negative at 10030
- AD was 7:10 showing some buying coming in at lower levels

- nifty next 50 index closed in the positive
- midcap 100 index closed marginally in negative
- bank nifty lost 1.6% and was the biggest loser

- note nifty all time low this year is around 9950

5 min charts:
- ignore prev day charts as it pertains to OCT series
- took a short position in first bar and covered on 1st green bar
- trade was in profit but this was a dangerous trade
- took short position in circled area... cover at close

Hypothetical trades as per kplswing N=20
- 3 trades
- SL shown as horizontal line

- expect a lot of whipsaws in trading environments like this

Same chart with N=5

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