REVIEW OF 19th July 2012 AND UPDATE FOR 20th July 2012

NIFTY  FUTURE – 19^th  July Recap

NIFTY FUT we clearly mentioned that the bias will remain upwards if it manages to trade above 5230-35 levels. Even on a range bound day NIFTY FUT made a low above this level and managed to pull back and close just around 5250 odd levels. But the powertrade level of the day was our post yesterday – “Strong buying for bulls will only emerge if NIFTY FUT manages to surface above 5275”. Markets opened gap up enabled by strong global cues  and made a morning high just below that level and once it failed to scale above it NIFTY FUT slipped downwards to test the TREND DECIDER of the day. Where it found support and managed to pull back.

Overall markets again stayed range bound with muted volumes giving tough time to traders. This has been one of the quietest months in a long time with very range bound moves and giving little away to traders.

 Our NIFTY FUT traders went long near 5250 levels and closed the trades near cost, this was on top of the overnight longs carried where handsome profits were booked.  We also had the over night BANKNIFTY FUT longs which we mentioned yesterday. Booked partial profits in longs near 10700 and the rest at 10670 both in good profits...... 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 – 20^th  July Trading Guide

NIFTY FUT had yet another range bound session giving little away for traders. Markets failed to sustain a strong opening proving again how crucial the band of 5275 is for BULLS to emerge stronger. NIFTY FUT now has immediate support at 5230 and trading below which will again test the 5200 levels. Strong resistance comes at 5275 and any sustained move above it will make NIFTY FUT test 5300 levels. If NIFTY FUT manages to sustain above 5300 expect some strong short covering to come in. Currently options open interest data don’t support 5300 levels to be taken out but again that may change in coming sessions. Volumes remain a concern and markets will really break out of  this range once it manages to move above 5275 convincingly or  breaks 5175 on the downside. Upward bias remains intact above 5330 But breakout longs can only be taken above 5275 levels. Till that time avoid trading in a small range or risky traders may attempt contrarian pull back trades.

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.



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 ------- 5230-35
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5195-5200
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ----5179, 5155,5135
Detailed analysis also posted at www.powertrades.blogspot.com

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