After so many hours NF closed above 7 EMA-- 6115 and 10 EMA -- 6121 and 200 EMA -- 6121.
From the opening Open Interest was showing bearishness,, but during trading hour bearishness was Decreasing and after 3.00PM it turned to bullish.
Now what next..... Tomorrow.
NF is facing resistance at 6139 zone a 70.7 Retrace level.
If it clear this zone then next hurdle zone is in between 6155-6164.
Tomorrow if NF can cross these zone and trade above 6164, then 6198 and above this 6220-6232 level.
If you Analyze through Elliot Wave or Wolf Wave or "W" Curv pattern, then NF will have to Reverse back from any of these zone.
Now from Tomorrow always be careful and put SL with your trade as per your appetite.
I am always use 7 EMA and 10 EMA as a stop loss in different chart, and in hourly format these two EMA's are the best for trend trading.
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