June 6, 2019

Market outlook + multiple timeframe charts

Daily charts: 
- trend is up on daily charts
- today nifty closed 1.5% in negative at 11843
- AD was 5:13 (not bad)

- selling was across the board/ all indices/ sectors
- VIX down 1.5% .. no fear?

- now we have multiple supports around 11500 and then nearest at 11800 spot
- since I need to keep SOME sl, I am keeping this at 11800

- note there is no conviction in bulls above 12000
- though index has closed twice above this, fresh buying is not coming in

- PE around 30 is very negative for long term investors
- I am talking about high for PE for several weeks (if not months)

5 min charts:

15 min charts:

30 min charts:

60 min charts:

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