January 11, 2019

Market outlook

Daily charts:
- trend is up on daily charts
- today NF closed 0.25% in negative at 10795
- AD was 7:10

- option writing support 10500 resistance 11000 (highest OI)

- nifty continue to trades within triangle
- the triangle is getting smaller
- expect a big move once breakout happens

5 min charts:
- market was trending down
- covered yesterday's 10500 PE at cost
- funny thing was market was going down and puts hardly appreciated

- not much strength in selling and not in buying either
- movement typical of triangle ending

- trendline represents triangle support on hourly charts

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