Wednesday, May 27, 2009

OVERSOLD IN HOURLY CHARTS

I had been writing 13500 level on Sensex and yesterday it came close to that level (13518) from where bounce back is likely. For today , NF is strong as long as it trades over 4159 for target 4203-4219. However, NF 4224-4234 will act as strength test ; over which the shorts are likely to be covered.