October 22, 2019

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.6% in negative at 11590
- AD was flat

- note prev swing high around 11700
- and rally from 11200 to current levels was always with a higher low
- formation of "lower high lower low" for 2-3 days is healthy for any rally
- this has not happened so far and it does, it will be good for the market

- highest OI for this weekly series is at 11700 CE
- next highest OI is at 11600 PE
- tight trading range?

3 min charts:
- did not trade long
- breakout failure around 11700
- covered around 11650 F

- decision levels for tomorrow 11610-11720 F

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