An Inside Day .....
Much to the frustration of traders today.One thing to note that NF is definitely facing resistance to move up and as such tomorrow we may break on the downside till 5410 -5370.It is at this level that the Daily overbought would neutralize and we would then approach 5620 and much higher by expiry.Also today was an inside day so any side break out would give wild moves.
NHPC is good bet on the upside with targets of 28 - 30.
Much to the frustration of traders today.One thing to note that NF is definitely facing resistance to move up and as such tomorrow we may break on the downside till 5410 -5370.It is at this level that the Daily overbought would neutralize and we would then approach 5620 and much higher by expiry.Also today was an inside day so any side break out would give wild moves.
For tomorrow too 5520 is the resistance and look for shorts with a SL of 5556 for immediate target of 5370. Remember the trend is up but this just a an intraday call for short term gains.Positional longs should raise the SL to 5245 now.
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