April 22, 2019

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 1.35% in negative at 11594
- AD was 1:3

- close below 11500 will confirm trend reversal

- Last week's dark cloud cover shows its magic today

- option writing support 11500 resistance 12000

5 min charts:
- gap down opening below support was sell signal
- but the candlestick was big and trade was not worth the risk
- a later entry as per green arrow was stopped out at negligible profit
- rangebound market made trade management difficult

- a deep SL of min 25 points would have given min 60 points profit

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