January 29, 2020

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.6% in positive at 12129
- AD was 5:4

- VIX down 5%

- option writing support 12000

- today markets were up but OI down 10%




3 min charts:
- first long trade gave minor profits
- next short and long trade was minor loss
- last short trade gave very good profits as exit was at 12100 F

- did not trade long at 12100 F
- reason is there was no signal
- and prev short trade meant you should look to short and not trade long
- only reason for long trade here was very close to 12100 where PE OI was highest
- these will be situations where there is no signal yet trade can be taken solely because SL is very close

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