May 6, 2019

Market outlook

Daily charts:
- trend is up on daily charts
- today markets closed 1% in negative at 11598
- despite gap down opening, there was no selloff afterwards
- AD was 1:2 (not bad)

- VIX up 10% making options very expensive

- swing low 11500

- 11800 has become an important top for the market




5 min charts:
- today was a difficult day for trading
- upstox kept disconnecting
- datafeed (vbiz.in) refused to start / support was non existent
- took trial from valueRT .com - so far so good
- luckily market was extremely rangebound so did not trade initially
- later took a short position; stopped out
- had the short position been taken on pin bar formation, the returns would be excellent.





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