OVERSOLD ZONE

Hourly charts are moving into oversold. One can play for a bounce back at this level. Today's strategy should be to buy in dip in early morning around NF 2565-2585 for bounce to 2616-2642 levels. If unable to cross and stay over NF 2618 will gather weakness to test 2565-2540 level. Strong over NF 2629. NF has to cross hurdle of 2655-2670 for uptrend to start. Sideways trend expected till we cross resistances. Range for the day is NS 2676-2545.