REVIEW OF 3rd Sep 2012 AND UPDATE FOR 4th Sep 2012

NIFTY FUTURE – 3rd Sep  Recap

NIFTY FUT, we clearly marked out that resistance is at 5320-25 levels.  This was also marked out as the BEARS LAST STAND point of the day. Morning high just made around that level and markets pulled down exactly from there. Where did it find support? Intraday low made just at our TREND DECIDER OF THE DAY where markets managed to find some support and pulled back. During the pullback it again failed to even test the 5320 level showing signs of imminent weakness and eventually pulled downward to take out the support of 5280 and closed marginally below it. The close below 5280 future levels is not good and needs to be watched out carefully for the coming sessions.

Overall NIFTY FUT stayed range bound with 40-40 odd points for most part of the session and also the volumes stayed very muted clocking the lowest volumes in the last 10 odd trading sessions.

What are the critical levels to watch out for in the coming sessions? What trades to take? Where to make low risk entries?

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NIFTY FUTURE – 4^th Sep Trading Guide

The good news and the bad news. The bad news for BULL players is that NIFTY FUT closed below the support levels of 5280 signifying weakness and have also failed to take out 5325 on multiple occasions. The good news is that NIFTY FUT’s move today was accompanied by lowest volume in quite a few trading sessions and secondly 5240-50 is still intact so far. As for recent trading levels. Immediate resistance now emerges at 5280-85 levels and if it sustains below this level in the opening session. Chances are high that NIFTY FUT will drift down to test the downside positional support levels of 5250 zone. On the other side if NIFTY FUT manages to trade above or move above this zone it will attempt 5406 and clearing that will seriously test 5325 zones. Short term and mid term momentum indicator remains negative below 5325 now and at the same time the long term indicators are still holding good until 5350 is sustained.

Cues for trading this Tueday: Seriously look for 5280 as the TREND DECIDER and go short or long below or above it for any sustained trading around these levels. safe traders can play safe to intiate shorts on breakdown of 5245 or long above 5406 levels with 20 odd points stops.

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5320-25 sustaining above which it will target 5355,5285,5410
POWERTRADE TREND DECIDER OF THE DAY ------- 5280-85
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5345-50
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5232,5215,5195

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

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