Monday, April 20, 2009

CAUTION AT HIGHER LEVELS

Weekly charts have made a doji candle showing indecision at these levels. This week's stop and reverse is NF 3406 with targets as 3488-3595 and supports at 3329-3277-3217. Consolidation can take place between 3240 and 3500. Today's trading strategy should be to buy only if NF sustains above 3421 for target 3461-3489 and short if remains below 3412 with S.L. of 3432 for target 3341-3325. Trend is uncertain as break of NS 3310 will start the correction of wave 2963-3511 formed.

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