REVIEW OF 23rd Aug 2012 AND UPDATE FOR 24th Aug 2012

NIFTY FUTURE – 23^rd    Aug  Recap

NIFTY FUT gave yet another day where the analysis and levels worked spot on. We had mentioned that true positional breakout level is 5478 and had been shouting to book profits at higher levels for the past two sessions.
NIFTY FUT during mid-day failed to clear that hurdle and drifted downwards to make an exact low above the support level we wrote. We mentioned support comes at 5400-05 (Low made 5403.5 levels).
Let’s review how the trading levels worked. We mentioned that the BEARS LAST STAND POINT (above which bears will not have any hold or last resistance point) was 5470. Market topped out just below it and failed to clear it. Bears then took control and we saw some strong long unwinding which caused the markets to drift down and to make a low just at TREND DECIDER. Once this level was sustained markets gained some control and managed to pull back to close around 5430 levels.
How to trade the coming sessions? Will markets hold onto these levels? What does today’s close suggest? When should I build positional longs? Or exit my longs?  Read our trading analysis for next day.

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Our subscribers in NIFTY FUT went short below 5445 and booked nice gains in quick momentum move till 5414. This was simple trading just as per the blog updates. Are you still worried about your trade entries? Are you missing on these turning points entries? How about looking at our points guaranteed services. …... 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 – 24^th     Aug Trading Guide

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NIFTY FUT today tested the low and support level of 5400 as identified and pulled back to close around 5430. This close indicates that midterm BULLS players are still intact above 5375 levels and markets are witnessing strong support at these zones. NIFTY FUT immediate support remains at 5400 levels and a breach of that will see NIFTY FUT to test 5380 odd levels. Failing to hold that 5350 can be tested in a jiffy. On the upside today’s trend didn’t prove anything conclusive for the BULL players and resistance zones remain the same. Immediate resistance comes at 5453 levels and above that markets can again make an attempt to test the positional resistance level of 5478.  This remains as the positional break out level. Any sustained close above it and NIFTY FUT should move into a bull orbit challenging the highs of 5600-5700 in the coming months. For now the PSU banking counters and telecom sector stocks have not been part of this upmove and we saw some serious profit booking in some heavy weight counters today. This is working as a serious deterrent to challenge the upmove. Similarly any support or short covering on these counters will help fuel NIFTY FUT above our magical number zone.

 Cues for Trading on Friday: NIFTY FUT remains in the same trading range. Flavour of the day contrarian longs with stops at 5400 levels or shorts with stops at 5465. Also look for a break out trade above 5478 and a  breakdown short below 5400 or 5375 for a confirmed breakdown.
POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5470-75   sustaining above which it will target 5490,5515,5565
POWERTRADE TREND DECIDER OF THE DAY ------- 5400-05
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5375-80
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5355,5325

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

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