February 28, 2020

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 3.6% in negative at 11219
- AD was 1:5

- today 350 stocks made new 52 week lows

- good support around 11000-11200 range

- no swing formed below 12200
- I expect 11600 to provide resistance

- VIX up 29% today... options have become very expensive

- nifty has reached lower trendline of rising wedge (will post chart tomorrow)

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