One thing noted is that NF is crossing every resistance in a Gap up and just manages to stay in the upper range entire day . Today also NF moved in a very narrow range of 6188 - 6205 . Nervousness was Visible . I expected a decent profit booking today ahead of FED Meet and NF overbought but didn't happen.Volumes entire day were not encouraging seems the retailers are nervous . Decent volume was seen only at the end . This again shows some buying interest. Profit booking on the individual end was a wise decision after 3 days of rally. Much depends on the FED decision tonight .
For tomorrow 6188 - 6176 would act as support and on the upside 6224 - 6234 - 6248 may be visited and if all crossed the we can march towards 6317.
Again Saying the entire market for tomorrow depends on the fed decision tonight.
Aggresive stand if taken then if tomorrow if it is a Gap Up then shorts can be created agressively for quick gains ( Just for Die Hard Traders -- Those who dont have apetite may avoid it).
Hi Friend,
ReplyDeleteGood Evening. Nice chart - the three end candles with Higher highs are a Swing Traders delight. Thanks for pointing out.
Regards,
S Rajagopal
@Rajgopal Sir,
ReplyDeleteAt Least the swing traders have got almost 60 points NF in just 30 Minutes ... Just we could no take the call yesterday on NF.