May 18, 2020

Market outlook

Daily charts:
- nifty gives a sell signal today
- the buy signal generated on 9-APR at 9112 gets closed as swing low of 9000 is violated on closing basis
- the kplswing signal generated on 29-APR at 9553 gives a whipsaw as SL hit today
- it was expected and indicated that buy signal will fail and that is what has happened

- this sell signal can get whipsawed if today's losses are completely recovered in next 1-2 days

- markets closed 3.4% in negative at 8823
- AD was 2:7

- next supports 8500-8000-7500
- resistance 9500-10000




With kplswing indicator



5 min charts:
- short on break of 9050 F and 8900 F
- exit on trailing SL



15 min charts:



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