REVIEW OF 9th Oct 2012 AND UPDATE FOR 10th Oct 2012

NIFTY FUTURE – 9^th  OCT Recap

NIFTY FUT- we had clearly mentioned that 5760-65 will be the mid term pivotal point for swing traders and BULLISH view will only be confirmed if NIFTY FUT manages to move above that range. Today during pull back NIFTY FUT marked a high just under it and then it spiraled downwards to test our swing levels of 5700 again. For the morning session we had mentioned that in the short term if NIFTY FUT manages to move above 5711 intra traders may see NIFTY playing positive but at the same time it was important to take out 5765 levels else BEARS will again come into play. This was also co-incidental with our Trading levels for the day. TREND DECIDER given at  5710-15 levels and BULLS LAST STAND point given at 5760 levels.

Let us review our trading cues for the day:  “Look for quick long trades above 5711 with tight stops and at the same time if NIFTY FUT sustains below 5700 for sometime look to take short trade below today’s lows. Also look to take short trades in pull back to 5760 levels or  long trades in dips with stops below 5640 levels.”
This again worked beautifully well and hopefully all readers minted good returns.


NIFTY FUT  today again tested the crucial technical and psychological levels of 5700 today? What holds next for the market closed below 5700. Read our post for the next session?
 Quick Quiz for today: With respect to the previous close on daily candle, what do we call today’s candle formation (Clue I’m looking for the technical word for it)
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POWERSTOCKS AUTOMATED SIGNALS:
We are still holding our long on TATASTEEL which survived the stop today and managed to perform better than the benchmark index.
All automated signals have been posted live at our Facebook and twitter page Review all that analysis at http://powertrades.blogspot.in/2012/09/how-high-performance-automated-signals.html

Folks who love systematic trading can follow our Automated Stock Calls posted live at our Facebook page : www.facebook.com/powertrade.trading
 

Dull day for our NIFTY and BANKNIFTY traders. went long during the early part of the day but decided to close out positions after seeing a flat movement for the first session. Did some quick stock futures trades meanwhile.......Make it a big day for your trading.  And leave your trading worries to us…Looking for decisive trade entries?.. 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? Subscribe to our premium calls and leave your trade entry and exit worries to us. 

NIFTY FUTURE – 10^th   OCT Trading Guide

NIFTY FUT –  First an answer the quiz. Well if we go and observe the candle formation we had an inside candle formation where the entire trading range was within yesterday’s candle. NIFTY FUT created a similar bottom today and managed to hold it for now. This will now act as a crucial support and any breach of 5690 levels will pull the markets down to eventually possibly test swing support levels of 5640 and lower zones. On the upside immediate hurdle now comes at 5745 levels and trading above that will again tend to attempt the trading level of 5765 on the upside. Which still remains as the swing turn around level for both BULL and BEAR players in the market..  
On the downside immediate support come at the trading band of 5700-10 levels.

Short term Momentum indicators are now negative and will continue to hold so until NIFTY FUT holds below 5745 levels. Mid term momentum indicators remain neutral here and will be positive above 5765 and negative below 5640 levels on the downside.
Cues to Trade this Wednesday: Might be a day to look for pull back trades on either side until NIFTY FUT breaks out of the trading range of Tuesday. Hence Look for a long trade in dips with stops at 5690 and short below it. On the upside look for short trade with stops above 5765 and breakout long above it.

 POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5760-65   sustaining above which it will target 5790,5820,5860
POWERTRADE TREND DECIDER OF THE DAY ------- 5740-45
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5690-5700
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5670,6645,5610,5580

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

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