Sell Off at the Top

A Lot can Happen Over a cup of Coffee .....

Today's Coffee too was just as sweet one as the earlier. Those who shorted in the morning at 5610 NF have been the lions today. The Rally is Fizzling out . After the morning sell off not even once NF has tried to kiss the level of 5620. Also some what gravestone doji pattern appears to be on the charts. This time it is at the channel top so chances of breakdown are more.Also i expect crude to move above $103.65 in the weekend and head higher for $120-$127.

For Monday Resistance and congestion zone again is the 5565-5575 NF area where selling can be initiated. Above 5575 NF straight move till 5620 can be there but looking to today's action anything above 5620 will get sold off as there is a seller at 5311-5600 NF.Also below 5481 Carnage awaits in the market till 5425 - 5370.

Sell the market with a SL of 5720 targets are 5200 and much lower.

As said Market is supreme so anything can happen but as such we are playing probabilities of the lower side with a sell at higher levels and with a  SL too and that happens to be sell now.