January 3, 2019

Market outlook

Daily charts:
- trend is up on daily charts
- today NF closed 1.1% in negative at 10672
- AD was 5:11

- nifty at lower trendline of (diamond) diametric, a neowave pattern
- recent swing low 10500... more important

- option writing support 10500




5 min charts:
- traded short as per signal in first circled area
- stopped out in 2nd circled area
- loss of 3 points in options

- in hindsight, SL was  too tight .. a distance 2 more points would have been fine
- when I think back, the reason for tight SL in past few days has been a min of 20 points in 2-3 min whenever SL is hit



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