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

NIFTY  FUTURE – 23^rd    Feb  Recap

NIFTY FUT we wrote that the BULLS LAST STAND point of the day was near 5470, check the days low. Markets couldn’t break that and bulls pulled back smartly from there.But were not strong enough to take out the TREND DECIDER of the day and pull back to Bull orbit and hence markets pulled back to give a closing below 5500 levels. With Feb series closing on monthly charts NIFTY FUT still looks good and gave a second consecutive positive closing but on weekly charts it showed the first signs of exhausation with an inside candle formation.

Our NIFTY FUT subscribers stayed out of he market today to avoid expiry volatility, while the positional subscriber booked more profits on their over night shorts near 5480 levels.

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 NIFTY FUTURE – 24^th   Feb Trading Guide

NIFTY FUT now faces immediate resistance near 5500-05 trading above which can attempt the higher levels of 5535-45. On the downside Support now emerges at 5565-75 zone break of which will lead to further slide to 5435-25 and below that to 5400 levels, where this BULL rally will really be tested, for this rally to sustain 5400 has to hold for now for positional players.

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5535-5545 sustaining above which it will target 5565,5590
POWERTRADE TREND DECIDER OF THE DAY ------- 5500-05
POWERTRADE BULLS LAST STAND POINT OF THE DAY -------5465-75
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ----5435,5410

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