Trading Room Plan for 10th April 2014

The markets trended strongly in  the second half of the session after a very quiet IB and Morning half.

 

_Nf_Compo

The profile chart above is a b shape which tells us that the move of the day was based on short covering and sellers did not come in the closing minutes as the session finished at day highs.

 

Nf_Of

 

 

The OF chart above shows a little bit of selling in the morning all of which was quickly covered above the 6768 level we had mentioned yesterday.

 

For tomorrow the key numbers to hold in the morning would be 6803- 6815.

 

If we stay in the 6810- 6850 range tomorrow without going and breaking 6785 then NF can close friday at around 6915 on the day high of 6848 cross ( can happen on thurs or friday).

 

Hence it would be wise to buy 6900 calls if we move above 6850F.

 

The BNF chart below also shows the same amount of shortcovering.

 

 

 

Bn_Of

 

The BNF chart is very close to the weekly objective of 13123 and the correct strategy would be to buy dips as long as 12900 holds in the F.

 

The index should be looking at 13350 now provided 12900 is held for next few sessions.

 

Bnf__Compo

 

For tomorrow intra support is 12917 again and only a move below 12900 would mean a visist to 12790 to cover anomalies.