July 26, 2019

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 0.3% in positive at 11284
- AD was 5:4

- VIX down 6%

- today 290+ stocks made new 52 week lows

- option writing support 11200

3 min charts:
- first short trade was a big whipsaw
- note this trade was taken as markets closed below a known swing low
- this swing low is visible on spot charts and not futures (today being first day after end of JUL series)
- 2nd short trade was a small loss
- next long trade gave very good profits
- last short trade gave small loss

- overall a day with lots of job satisfaction (action) but no profit no loss

Same chart with kplswing

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