Thursday, January 21, 2010

NF Hourly... DT Target Done!!!

I'm reading: NF Hourly... DT Target Done!!!Tweet this! Posted by Trade Less Trade Smart at 3:30:00 PM

4 comments:

  1. AnonymousJanuary 21, 2010 at 5:52 PM

    Manoj, excellent explanation of the down move. I was also expecting the downmove to happen (MACD was showing a negative divergence).

    I am little sceptic though if market try to touch 5180 tomorrow... Lets see what tomorrow brings...

    Thanks

    Mehta

    ReplyDelete
  2. Tryin2TradeJanuary 21, 2010 at 6:33 PM

    Mehta Hi

    Thanks for appreciation!

    You are right in your skepticism about a straight line move to 5180.

    But what I figure is that if we dont go UP, then we might consolidate here a wee bit as to enable to bring down the MA's!!!

    Needless to say we both looking at hourly chart here!

    Cheers!

    ReplyDelete
  3. Manoj chopraJanuary 21, 2010 at 7:28 PM

    Rising wedge support at 5020 in weekly chart and interesting to note - tomorrow is last day of week, if 5020 is held then bounce back or minor(may be major if bull to continue) support at 4940 and then straight to wedge target 3900 - may be too early to think so, but Always EXPECT THE UNEXPECTED IN THE MARKET. Many stock in cash fell with low volume may be due to first phase of distribution!!!!!!

    ReplyDelete
  4. Tryin2TradeJanuary 21, 2010 at 7:56 PM

    Manoj Chopra Hi

    Thanks a ton for sharing your views!

    Cheers!

    ReplyDelete

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