REVIEW OF 10th Aug 2012 AND UPDATE FOR 13th Aug 2012

NIFTY FUTURE – 10^th  Aug  Recap

NIFTY FUT again traded in a small range giving little away for intraday players NIFTY FUT opened on the higher side but once it failed  to cross the immediate resistance mentioned at 5366 it drifted down and eventually made a low just above our TREND DECIDER where it found some support to give a good pull back. We had advised traders to create contrarian shorts below the top with strict stops in our blog, and that worked well for our traders giving away good returns in a small range day.

Our NIFTY FUT subscriber went short below 5340 and closed the trade near about cost with marginal gains. Trade of the day was for our BANKNIFTY subscribers who went short near 10450 levels and booked ballistic gains till 10355…... 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. 

NIFTY FUTURE – 13^th   Aug Trading Guide

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NIFTY FUT pulled back to close near 5350 levels respecting the support of 5320 as mentioned by us. This will form as the immediate support zone and a breach of that can test 5300 and on the lower levels crucial support of 5280. On the upside there is a hurdle band at 5365-75 range and only if this crosses with volumes will NIFTY FUT move up to test 5410 levels this time. Meanwhile until this range breaks we expect range bound movements to continue and contrarian trades could be the flavor of the day within this range.
.Positional Longs will again emerge out once NIFTY FUT manages to close above that level. On the downside support now comes at 5320 levels which will be critical to watch out.  Crucial support position ally for midterm comes at 5280 odd levels. This is not only the gap that was created on the 6^th but also is almost the 50% retracement level of the recent upswing and has to be watched out for. A breach of that and NIFTY FUT should some weakness to 5255 odd levels. Short term momentum indicators are negative to neutral until NIFTY FUT trades below 5366 levels for now.

Cues for Trading On Monday : Go short below 5320 or long breakout above 5375.Risky shorts below 5360 levels with strict small stops may also work well again
. 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 -----5365-70  sustaining above which it will target 5390,5410,5435
POWERTRADE TREND DECIDER OF THE DAY ------- 5320-25
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5275-80
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5245,5230

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

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