February 15, 2019

Market outlook

Daily charts:
- trend is up on daily charts
- today markets closed 0.2% in negative at 10724
- AD was 6:11

- volatility was high as markets broke a support and then rallied towards close
- this rally was not reflected in nifty next 50,  midcap, small cap stocks
- this means some heavyweight rallied as only nifty and nifty 100 index gained

- nice hammer formed
- holding above 10800 spot crucial next week

- note buying has come from the 10600 region
- so we have double bottom support at the level and
- another support near 10500 region

5 min charts:
- took short position in first 10 minutes and covered immediately
- I was motivated to this due to the very strong support around 10700 F levels
- in hindsight, this overanalysis was uncalled for as there is an SL anyway

- in reality, markets broke 10700 F but did not tank much as buying set in lower levels
- completely missed significance of 10600 spot (I don't have spot charts to track real time)

15 min charts:

30 min charts:

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