August 20, 2019

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.3% in negative at 11017
- AD was 1:2

- this month, nifty is trading between 10800 and 11200
- but actual net move on closing basis shows no progress
- net move so far is less than 1%





3 min charts:
- ignored 1st short trade as markets were very close to 11000
- in hindsight, one could have still earned at least 20 points
- traded long on breakout; unfortunately breakout bar was too big
- covered half at day's high (resistance) and rest at breakeven

- did nothing thereafter

- in hindsight, every trade offered 20 points of profit
- there were 4 such trades
- this is rare



Same chart with kplswing indicator








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