REVIEW OF 6th Mar 2012 AND UPDATE FOR 7th Mar 2012

NIFTY  FUTURE – 6^th  Mar  Recap

NIFTY FUT we clearly warned of a volatile session yesterday and advised to trade light and what a session it was, these are the days where Technical Analysis may not work and hence we prefer staying out mostly. But even in all this mayhem our levels still got followed. We wrote NIFTY FUT can attempt 5255 and check the morning low before the massive pull back?  We also mentioned once trading above 5335 will target 5410,5435, again see the highs made before the fall (5428). More importantly we hope everyone played light and will wait for the markets to stabilize.

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 NIFTY FUTURE – 7^th   Mar Trading Guide

NIFTY FUT closed at day’s low of 5232 breaking below the crucial support zone of 5255 levels. Immediate support now comes at yesterday’s low, trading below which can see further downside till 5200 levels. NIFTY FUT has now filled the gap created on 31^st Jan, this is what we talked about yesterday. Immediate resistance is now at 5255-65 levels, trading above which will again attempt 5295,5305.

 POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5295-5305 sustaining above which it will target, 5335,5345,5365
POWERTRADE TREND DECIDER OF THE DAY ------- 5255-65
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5165-5175
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ----5145, 5125,5100

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