27th Feb 09

Yesterday NF made a high of 2786 and a low of 2730 which fitted nicely between my M2 & M5 levels. I hope people traded it both ways intraday.

On a swing basis, NF in Feb has not been hitting my 200 points targets as it has been ranging in a tight range throughout the month. My shorts initiated at 2850 levels did see 2660 but did not hit 2630, and now we are sitting at 2780. In any case, like a desciplined trader I would stick to my plans and hold NF with SL 2880. I will add more shorts at around 2825-2850 (these are the shorts that i booked partially with 100 points profits earlier).

Magik levels for today
NF = 2730, 2761, 2802, 2827, 2860

Cheers
SH