February 17, 2020

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 0.6% in negative at 12045
-  AD was 1:2

- VIX jumped 7%
- stocks at 52 week low thrice that of stocks at 52 week highs

- will 12000 hold?
- this level has been broken and reversed several times in the past

3 min charts:
- there was a big bar spanning 70 points in 3 min
- first hour hour low was crucial and even though markets broke this later on, there was no selling
- markets at that time were very close to 12000 and this becomes a no entry area for shorts

- did not trade today as there was no reliable setup

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