As we begin Feb, the market is in Balance in all timeframes - monthly, weekly and daily. All the major news is out of the way - ECB QE announcement, FOMC monetary policy meeting, GDP. I believe the catalyst for a major move in either direction will be the market's assessment of 4th Qtr earnings announcements.
Friday was an inside day with a prominent POC centered within the day's range. While Value was overlapping to higher, attempted direction was lower. However, the market could not take out Thursday's low - 1982. The market has tested this level 3 times and is a go/no-go level. Balance trading rules apply. A break and hold below 1982 is negative and targets the 1970 and then the 1961.50 level. A break and hold above 2000-2002 level targets the 2 day balance high followed by the naked POC at 2023.75.
EpicResearch Options - Call and Put Tips for Foreign Exchange : BUY CIPLA 680 CALL OPTION ABOVE 27 TGT 29 31 34 SL 24.
ReplyDeleteTODAYS PROFIT SUMMARY : UPL 580CALL 2000 SBI 170CALL 2000 RELCAP 390CALL 1125 LICHSFIN 440CALL 1000 TOTAL PROFIT 6225
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