REVIEW OF 26th July 2012 AND UPDATE FOR 27th July 2012

NIFTY  FUTURE – 26^th  July Recap

NIFTY FUT we had clearly signaled that 5095 was a key level to watch out and a breach of that will cause a strong downward drift, markets managed to hold onto to that for a good part of the day making multiple lows around out 2 pm.  Look at the movement once it cracked that level. Markets surprised us all giving a decisive move on a expiry day. We had identified downward targets of 5060 and 5045 on a breach of 5090 levels which got met within a short time frame.

The Month that went by:

NIFTY FUT surprised all analysts and traders breaching 5100 decisively and closing well below it near 5040 levels. This session is a reminder that however we might believe about certain levels and have a strong conviction about it eventually price movement is the most overriding factor. One must never let the conviction turn into blind belief.

Another surprising aspect of the day is that we witnessed the highest volume in the entire month of trading. Hopefully we will see some range expansion now

Our NIFTY FUT traders didn’t take any trade today, more so because the bulk of the movement happened in late hours and we didn’t want to initiate a trade in expiry this late. But the star trade of the day was our BANKNIFTY FUT trade. We shorted at 9:20 odd AM at 10270 and we all know what low was made (10050 levels)…Bucket full of 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 – 27^th   July Trading Guide

NIFTY FUT cracked crucial support levels and closed  below the 5050 mark. Until NIFTY FUT trades below this markets will remain on a downtrend. On the downside NIFTY FUT will find immediate support near 5030 levels and trading below which can test the downside retracement levels of 4990. On the upside NIFTY FUT will emerge into safe territory for BULLS if it manages to sustain above 5050-60 zone. Trading above which will again test the 5090 levels.  Intraday outlook remains bearish below 5060 and trading above which low risks longs can be initiated for higher resistance zones as target. Shorts to be preferred if it sustains below that zone.

# Overnight strong global cues let by renewed hope on Euro are looking to propel NIFTY FUT to a massive gapup opening. Key would be to see if it manages to hold above 5100 levels. Serious long build up will only happen above 5155.

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 -----5090-95  sustaining above which it will target 5115,5135,5155,5195,5210
POWERTRADE TREND DECIDER OF THE DAY ------- 5050-60
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5025-30
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ----4990, 4970,4950

Detailed analysis also posted at www.powertrades.blogspot.com

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