EOD Update Nov 15 2010

We can Appreciate the Miracle of  Sunrise Only if we have waited for it.

Today was really a beautiful day much to the delight of traders. As expected we had our first target of 6141 NF met in the late hours.After the morning panic visible volumes accompanied with extremely oversold conditions were enough to decide the direction of the day. As expected we had a bounce to 6141 level and closed in the upper band of today's trading range.The momentum may continue tomorrow too in my opinion.A decent volume build up at 6075 NF and a good upmove till 6148 after crossing 6120 supports my opinion of NF moving upwards.

For tomorrow 6115 NF and 6075 NF would act as the supports and buying can be initiated for targets of 6196-6225 NF.Looking at the prize-volume behavior below 6075 NF chances are very very less. In case it happens then 6005 - 6037 NF would act as supports.

I would suggest only buying at support levels of 6005-6037 NF for the above mentioned targets and much more.