February 5, 2020

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 0.9% in positive at 12090
- AD was 5:4

- with today's move, all budget day losses are recovered

- note current all has been from 12400 to 11600
- 50% of this is around 12000 and this level is crossed today
- if you are following 50% retracement, then you should be stopped out
- I will wait for 12200 as SL

- in above case, note this is for analysis only
- all positional F&O trades should ideally be on 15 or 30 min charts
- in this lower timeframe, trend is up from yesterday

3 min charts:
- traded short as per arrow; exited at 30 points profit
- missed long trade - reason: not keeping well last 2 weeks/ missed many afternoon trades

15 min charts:

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