Review of 11th Dec and Update for 12th Dec 2012

NIFTY FUTURE – Review of 11^th  December

NIFTY FUT- what a day of anti climax that it turned out to be. We had NIFTY FU breaking beyond the previous range on both sides with considerable volumes and none of that eventually sustained. These days are  few and far between and they test you a lot as well. We have been writing that once 5960 levels are taken out NIFTY FUT will target our next swing resistance of 5690 zones. NIFTY FUT made a momentary top above that level and failed to sustain it . We went long in the opening as well and booked some profits there and once that level was taken out we went on to hold some positions, but got stopped out on the way down.
Then we also mentioned that the lower range is so important and below 5920 odd range market will go on to test the levels of 5890-95. Markets fell through with terrific momentum below 5920 and found exact support in that zone and managed to hold on and pull back.
Funny part was we managed to break out of the trading range on either side and eventually still closed within the range.  
Readers again may love to note despite the strong move how our levels got respected on either side as NIFTY FUT still tries to break out the larger trading range. How is NIFTY FUT expected to span out in the coming sessions? Read our post for the next session.

Readers may also mark our blog : powertrades.blogspot.

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NIFTY FUT first went long above 5965 and booked some at 5990 and got stopped out of remaining position at 5973. They again then went short below 5925 and booked part profit at 5901 and rest at 5920 near close. BANKNIFTY FUT traders had a good day too, garnering near 87 average points.. …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 – 12^th December Trading Guide

NIFTY FUT tested the crucial swing support and resistance levels on both sides. But the fact that it respected the downside support levels at such high trading range means that BULLS are still willing to accumulate at lower ranges. NIFTY FUT exactly made a low at 5895 zone and managed to close within the trading range of 5920 odd levels. This is going to make trading difficult in coming sessions as till now we were only looking at a break of trading range of 5920-5960 but now we have to deal with a larger range of 5890-5990.
So how to go about trading this range? We would like to trade pull backs from near this trading range and reversals below given that the range has expanded now.
Break of 5890 will possibly lead to a retest of 5865 on the downside levels where we expect support to come in. In case NIFTY FUT manages to break that we can see it slide all the way to 5820 odd levels.On the upside we will only see some momentum once NIFTY FUT manages to clear 5955 levels on the upside.  This can possibly again test 5985 odd levels on the upside. Expect a breakout only on clear of 5990-6000 range on the upside for the eventual swing targets of 6048 and higher.


The short term momentum are now neutral and will turn negative below 5890 and positive only above 5955. The midterm momentum indicator hold positive above 5865 levels.
 As for trading today the levels are as follows:

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5955-60    sustaining above which it will target 5990,6025,6048
POWERTRADE TREND DECIDER OF THE DAY ------- 5925-30
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5890-95
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5865,5835

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

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