powerntrade

Mar 24, 2011

Trajectory For NF

Below is the possible trajectory for those who are incurring losses in March Puts.

As such My quantity will be 6 lots to play. Those who have less risk appetite can play in 2 lots of NF

Go Short below 5553. Stop loss 5559. Target 1 is 5526.65.
Go Short below 5543. Stop loss 5559. Target 2 is 5522.15.

Also Above 5560 Go long for Target of 5585 - 5620.

Also Below 5520 Go short for Target of 5500 - 5480.

Wave A      5553.45 - 5526.65
Wave B      5526.65 - 5543.21
Wave C      5543.21 - 5522.15

Wave 1      5510.10 - 5526.65
Wave 2      5526.65 - 5516.42
Wave 3      5516.42 - 5537.49
Wave 4      5537.49 - 5524.44
Wave 5      5524.44 - 5551.23

Also If we Open Gap Up around 5600-5580. Go short with sl of 5630 for target of 5555 and again buy at 5555.

Kindly note that this based on pure Mechanical system So Traders are advised to look at other indicators also.

EOD Update March 24 2011

Is is a short term reversal or March Euphoria.

Today NF has managed to close above all the resistances. Also NF has closed above 5531 hence implied bullishness. Tomorrow's Action would confirm the short term bullishness.

For tomorrow the last hurdle is at 5577 NF Above Which 5620 is the target. Below 5508 NF we would visit 5480 - 5460 NF.Till now we are in a broad Range of 5620-5370 and the break down level comes to 5460 NF. I expect a High volatility Tomorrow.

Those Who are having losses in puts can buy equal amount of NF at the supports and Sell at the Resistance to lock in the loss incurred due to puts.Lot size may vary according to Risk appetite but i would suggest a minimum of two lots of NF to trade.I would be posting the Trajectory to trade after 6 PM in the next post.

Mar 23, 2011

"Doubt is not an agreeable condition, but certainty is surely an absurd one."

This is what is happening now. After the Morning Storm.Things Got settled at the Peak.Much of the short covering happened today.Is the bearishness over or still we would see 5350 - 5357 ???.

For tomorrow Keep 5530-5540 as strict SL for intraday shorts.As such we are near the channel top so shorting can be done for quick gains.On the contrary now much bearishness will be visible on close below 5440 NF.