January 8, 2019

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.3% in positive at 10802
- AD was flat

- option writing support 10500 resistance 11000

- nifty trading in triangle (contracting, last stage)
- expect a move of 500 points when breakout happens (direction unknown, bias downward)




5 min charts:
- rangebound market
- did nothing as planned
- till breakout happens from triangle, I will keep quiet



Hourly charts:
- contracting triangle seen
- height 500 points
- wait for breakout and then trade




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