Thursday 2 February 2012

Review of 2nd Feb and Update for 3rd Feb 2012



NIFTY FUTURE –2nd  Feb  Recap
NIFTY FUT had an unusually volatile and choppy day after quite some time failing to breakout in either direction. Despite all this chaos the one thing again consistent was our levels. We mentioned that NIFTY FUT will only move to Bear territory below the 5235-5225.Check the Low made during intra panic yesterday (5232.5).NIFTY FUT pulled back sharply from there.

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NIFTY FUTURE – 3rd   Feb Trading Guide

NIFYT FUT traded choppy and closed in a neither here nor there range. The 2G licesence revoking news was a shocker for the market but eventually market took absorbed the news and hold on to a flat closing. Until NIFTY close above the 5225-5235 zone a further upside is possible. Hourly momentum indicators are trading in an over bought zone.NIFTY FUT now faces immediate resistance at 5300-5315 range.Positional Supports emerge at 5175 range.  
POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5300-5315 sustaining above which it will target 5350,above that 5400POWERTRADE TREND DECIDER OF THE DAY ------- 5225-5235
POWERTRADE BULLS LAST STAND POINT OF THE DAY -------5170-5180
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ----5130,5110
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