Review of 30th jan and Update for 31st jan 2013

NIFTY FUTURE – Review of 30^th  Jan

NIFTY FUT – Another day spend in the wilderness as markets pretty much failed to do anything as has been the nature for the past 2 months or so now. Today it turned out to be almost the 30 th day where markets have spend  within a narrow band of 120 odd points barring a few spike here and there.
Yesterday we discussed and mentioned that despite a break of 6060 we saw a trend line formation of higher lows in the long term chart and warned that a minimum of break of 6025 is needed to confirm the break down.
Hope that advised worked well and avoided traders taking shorts early on.
We also mentioned that NIFTY FUT immediate hurdle comes at 6075 and that got pretty much respected today. Barring a spike high at that levels.
Unfortunately Our Longs triggered on that level and we had to eventually close out intra positions as market ran out of time.
Today again it was proved how our levels are helping to understand that if markets are playing range bound or not.
AS markets clearly traded between the the TREND DECIDER of the day and the BULLS LAST STAND point of the day.
We have discussed many times that if the market remains trading within two of the trading levels it is better to stay neutral as a trader and look for clear trade.

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NIFTY FUT traders did take the long break out trade above 6075 levels but closed it at 6067 zones as markets failed to move and intraday positions had to be closed . …....… Are you looking for complete guided trading without any hassle?.. 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 –31^st   Jan  Trading Guide

NIFTY FUT – closed a relatively dull day  without doing much on either side as markets traded in a narrow range. What was confirmed though that we have got a new level to test out at near 6025 zones and on the upside at 6075 as the nearest trading zones to watch out for. On either side of that are the larger swing levels.
On the upside a breach of 6075 will test the trading resistance level of 6095 and on the downside a breach of 6025 will test the even more critical level of 6000 zones. Despite the weak candle a day before the fact that we have managed to hold on to the closing price of yesterday proved a decider for the market.
  It is imperative that we watch out now for the clear break of the trading range on either side and look for a clear break out or a break down trades. Aggressive traders may want to use the near term levels of 6025-6075 to initiate their trades, which comes with a lower trade risk but at the same time a possibility of a spike move just as it happened today.
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Swing indicator wise the short term indicators are  now back to being short and will continue to hold so until NIFTY FUT trades below 6095. mid term momentum indicators are also neutral at this trading level, they will swing to positive above 6120. This will be negative once NIFTY FUT trades and moves below 5995 levels.

As for trading today the levels are as follows:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6075-80    sustaining above which it will target 6095,6115,6135
POWERTRADE TREND DECIDER OF THE DAY ------- 6040-45
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5990-6000
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5960,5940

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

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