February 11, 2020

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 0.6% in positive at 12108
- incidentally there was a gap up opening, a short rally and a close near open
- AD was 4:5

- option writing support 12000
- we now also have strong resistance around 12200
- this defines the trading range for next few days

- monthly option series indicates range from 12000 to 12500

- incidentally 12100 is roughly the 61.8% retracement to the prev correction
- and the 61.8% retracement of this 4 day rally is 11800





3 min charts:
- missed first bar completion; traded long on 2nd bar
- exited as per SL
- 2nd long trade took away profits/ marginal loss





15 min charts:



30 min charts:





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