Daily charts:
- trend is down on daily charts (wef today)
- first warning came on hourly charts on Friday
- today markets closed 2.14% in negative at 11559
- AD was 2:7
- I have drawn one channel
- let us see if markets trade within the channel or break lower trendline
- if markets continue trading within channel, there will be whipsaws
- one thing is clear
- 11800 to 12000 is distribution zone
- recall all my prev posts about nifty PE being 28+
- and other posts showing rally lacked broader market participation
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjULqmTnuGCWcC5VfJNBhodoIJFy1u3UDMQ2xz6nbRAHJFZ2_EurrPqIr_8Z4ezS6N0AM7bKg47u-8LkfKv8AU_5mclGSETNosREW4bMyUFZgL-S6rdXZ7ekyTPEjErJDlarejELGI3E4xG/s640/a.png)
5 min charts:
- traded short from 2nd bar
- covered in the 11650 region
- failed to repeat short trade again due to lack of a decent SL
- in hindsight, 11650 F was a good SL
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgRN4qnCTTyYsMk2KhvOvjMpmmEnEUdFMrIiby3YfXtiPmsCHbyTv2mWh-iViqQyk27oLqAA0A5Cvd8JeWSi5aFY9PovG0a4gDv_PzSYiZg0BOHpBR5GUzPSWsTxQ-B_8XoH0KzcAl3LmQ/s640/a.png)
15 min charts:
60 min charts:
- trend is down on daily charts (wef today)
- first warning came on hourly charts on Friday
- today markets closed 2.14% in negative at 11559
- AD was 2:7
- I have drawn one channel
- let us see if markets trade within the channel or break lower trendline
- if markets continue trading within channel, there will be whipsaws
- one thing is clear
- 11800 to 12000 is distribution zone
- recall all my prev posts about nifty PE being 28+
- and other posts showing rally lacked broader market participation
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjULqmTnuGCWcC5VfJNBhodoIJFy1u3UDMQ2xz6nbRAHJFZ2_EurrPqIr_8Z4ezS6N0AM7bKg47u-8LkfKv8AU_5mclGSETNosREW4bMyUFZgL-S6rdXZ7ekyTPEjErJDlarejELGI3E4xG/s640/a.png)
5 min charts:
- traded short from 2nd bar
- covered in the 11650 region
- failed to repeat short trade again due to lack of a decent SL
- in hindsight, 11650 F was a good SL
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgRN4qnCTTyYsMk2KhvOvjMpmmEnEUdFMrIiby3YfXtiPmsCHbyTv2mWh-iViqQyk27oLqAA0A5Cvd8JeWSi5aFY9PovG0a4gDv_PzSYiZg0BOHpBR5GUzPSWsTxQ-B_8XoH0KzcAl3LmQ/s640/a.png)
15 min charts:
60 min charts:
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