April 15, 2020

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.8% in negative at 8925
- AD was 2:1 (bullish)

- note there was a gap up opening
- but nifty encountered resistance near upper trendline and sold off
- I expect this selloff at higher levels to continue

- stiff resistance around 10000 levels
- swing low 8000

- this is a bear market rally or technical pullback





- Today, could not trade due to login issues.
- I expect issues of this type with most brokers in Mumbai due to lockdown effect
- at other times, it is orders not getting executed or with delays



3 min charts:
- starting today I will be posting charts with kplswing indicator
- at least for this month
- trading strategy should be take all signals with SL at 3 bar reversal
- ignore long signal is close is NOT near bar high (reverse for short trade)

- I have shown valid signals with SL in green color



15 min charts:



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