April 9, 2020

Market outlook

Daily charts:
- buy signal today on nifty as index closed above recent swing high at 9000
- today nifty closed 4.2% in positive at 9112
- AD was 5:1

- VIX down 5% at 50%

- note this is first buy signal after break of 12000
- it is common (very common) for first buy signal to fail
- swing low is around 8000

- close is positive considering 3 day weekend
- but this correction has usually given Monday as a red day
- let's see

- note ATR is around 500
- so SL for any trade should be 1000 points at least
- swing low around 8000 meets this condition

- decided not to trade today due to connectivity / terminal / liquidity issues




3 min charts:



15 min charts:



No comments:

Post a Comment