REVIEW OF 23rd JAN 2012 AND UPDATE FOR 24th JAN 2012

NIFTY FUTURE – RECAP
We mentioned NIFTY FUT support at 5035, check the Intra day low created today (5036.5). We also mentioned that NIFTY FUT will face resistance at 5070 (High made 5062.5). NIFTY FUT again traded in a narrow range leaving very little for intra players. Another dull day with very low volumes. The average volumes traded was just half of the 50 day average. Markets are looking for the next trigger to decide the direction, The RBI policy could just be that tomorrow lets watch out

 Pretty much a flat day for our Intra Nifty subscribers too, they closed their positions at cost to small gains

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NIFTY FUTURE – 24th Jan Trading Guide
The Picture for NIFTY FUT again pretty much remains the same. There is a resistance band at 5070-90 above which NIFTY FUT can claim 5130 levels. Near term SUPPORT remains at 5030-35 and strong support now at 4985-95 zones. Today is a data heavy day, trade light and play safe.

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5070-5090 sustaining above which it will target 5130
POWERTRADE TREND DECIDER OF THE DAY -------  5025-5035
POWERTRADE BULLS LAST STAND POINT OF THE DAY -------4985-4995

Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ----4940

Just follow the markets reaction at these levels and have a happy trading session ahead.

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