REVIEW OF 17th July 2012 AND UPDATE FOR 18th July 2012

NIFTY  FUTURE – 17^th  July Recap

NIFTY FUT we mentioned that the TREND DECIDER of the day is 5230-35 and for most part of the day barring an open high NIFTY FUT traded below these levels. We also mentioned short term momentum indicators are on the negative side and markets eventually did drift lower during the later stages of the day.  Yesterday we wrote that NIFTY FUT has positional support in the 5175-5200 zone and markets after making a low here managed to bounce back to just close above 5200 levels. What is again worrying is  the abysmally low volume and the lower trading range for NIFTY FUT. Giving very little trading room for Intraday players and both positional players as NIFTY FUT is still stuck within a broader range.

Our NIFTY FUT traders went short below 5220 and booked profits at 5199 levels while at the same time BANKNIFTY FUT subscribers too went short below 10600 booking huge gains..... Where to take the next trade? Did you catch the move in the right time?..... Are you still guessing where to trade.Did you take a similar trade and captured the opportunity? Are you still worried where to take the trade entries? Subscribe to our premium calls and leave your trade entry and exit worries to us. 

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NIFTY FUTURE – 18^th  July Trading Guide

NIFTY FUT tested the positional support again and barely managed to pull back and close above 5200 levels. This zone of 5175-5200 is the crucial positional support and a dip below that can pull the markets downwards. The only concern is that for any up or down move there are not much accompanying volumes yet to create a room for a major move. NIFTY FUT faces immediate resistance at 5225-30 and trading above which will test 5250-60 levels. Strong buying for bulls will only emerge if NIFTY FUT manages to surface above 5275. Else within this zone as marked day before yesterday, NIFTY FUT is likely to remain choppy. Keep a downward bias If it trades below 5230 and vice versa if it trades above 5235 levels.

Please note these are not just pivot points. These are trading levels where we believe market momentum is in inflection points and are meant to provide guidance to traders.

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POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5270-75 sustaining above which it will target 5305,5325,5355
POWERTRADE TREND DECIDER OF THE DAY ------- 5225-30
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5175-80
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5155,5135
Detailed analysis also posted at www.powertrades.blogspot.com

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