November 14, 2018

Market outlook

Daily charts:
- trend is down on daily charts
- today NF closed flat at 10576
- AD was flat

- region of 1600-10700 is offering stiff resistance

- option writing support 10000

5 min charts:
- took a short trade in the circled area
- stopped out at no profit no loss

- did not consider short signal as markets were rangebound
- a short trade if taken would have given no profit no loss

- NOTE: whenever a black arrow forms on a chart, price should rapidly move in the direction of the arrow. If this does not happen, there is a very high chance of markets being rangebound. This is just an observation and NOT a rule.


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