August 6, 2019

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 0.8% in positive at 10948
- this was the first time after a long time that index actually sustained above prev day high
- AD was 13:5

- this is not the start of a new rally
- this is just a technical pullback after a deep correction

- note markets could not hold above 11000




3 min charts:
- took 3 long trades
- 1 stopped out at breakeven, 1 at 5 point loss and 1 at profit
- overall average day
- no short trade considered




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