EDD Update March 22 2011

"The best time to do something worthwhile is between yesterday and tomorrow."

Today too was a muted day with the range getting narrower and narrower. With 7 days left for expiry much of action will come in play now. Triangles have always been frustrating and the last time time it happened was in June-July 2010 and we broke on the upside till Diwali high's. This time too a triangle and also March when there will much of window dressing "Bulls and Bears Both Hiding". Tomorrow may be a day to watch for or the same may continue.

For tomorrow 5450 is resistance and above it a dash towards 5485. Bullishness only above 5531NF. Below 5375 NF again we may drag lower to 5310-5320 range and below it 5257. 

Is the NF correcting the oversold condition ??? or An Upmove???