Weekly Update

Cigarette is Dangerous and that's the Reason i am burning it into Ashes .... so is the case with Trading.

Looking to the Fridays action after a small move above 5556 NF Just to trap the traders NF slipped in to negative territory just to take support at 5445 NF. Amazing symmetry This time too a bearish engulfing pattern (courtsey:www.icharts.in) and the last time also the same pattern happened at this level but this time NF just managed to move 30 point above the designated level.Multiple possibilities exist at this time. NF may retrace to 5370 then again move towards 5445 - 5525 level and then start falling. Or this time above 5556 NF may give a break out and rally till 5620 -5920.Or NF may move again from 5445 to 5525 and then move lower till 5370. Hola lot of confusions where will NF go and with expiry week a lot wild movements awaits. Tight SL is the need of this hour and the week as bulls and bears are going to fight for their supremacy.

www.icharts.in

For Monday too Multiple supports exists in the range of 5370 -5420 NF. So the strategy should be to buy around 5410-5390 with SL of 5356 for immediate bounce towards 5445 - 5525. Also if we open above 5445 then also we can buy with SL and Reverse mechanism with SL of 5420.

Positional Buy still holds true with SL of 5245.

NHPC has done the much awaited correction on Friday . It is a Buy for targets of 28 -30.

At last Dum Maro Dum ... Mit Jaye Gum ... Ya  Fir ... Mit Jaye Hum !!!