January 18, 2011

Neutral Day Extreme - Continuation Likely

Today NF Opened above YVAH, moved sideways for most part of day breaking IB low n then again moved back into IB ..Buyers n sellers were in Balance. Finally Buyers entered and managed to close near days high.
This is Neutral Day Extreme type in which one side wins i.e.Bulls today and this move likely to continue tomorrow.
5748-50(5746 VPOC of 14 Jan) needs to cross for any upside of 5780-90.
5690-5700 needs to hold.
I'm expecting Value Area to develop higher tomorrow, so for that 5700-10 most probably will hold.More after market Opens..!!!
Stocks to trade with positive bias - Orchid Chemical CMP 302 ..SL 295 Trgt 320-330.
Happy Trading.. 

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