July 31, 2019

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 0.3% in positive at 11118
- AD was flat

- nifty took support around 11000... low was 10999.4
- note breakout above 11000 was attempted 3-4 times over 4 months
- so let us see how long this support holds

- between 11700 and 11000, there is no swing high
- formation of one is not necessary
- but if formed, will help traders set SL
- in absence of any swing high, we can assume one at 50% fall - 11350

- today, 588 stocks made new 52 week lows




3 min charts:
- missed an excellent contra trade long opportunity just before 11am
- traded long per signal
- stopped out
- did only on trade



15 min charts:






No comments:

Post a Comment