February 27, 2020

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 0.4% in negative at 11633
- AD was 1:2 (not bad)
- but stocks at 52 week low to 52 week high were 10 times

- note double bottom / swing low around 11500
- this was also SEP high and FEB low

- today was also the 5th consecutive day of decline
- RSI(5) less than 20... oversold

- hammer formed.... sustaining above today's high will be bullish tomorrow





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