REVIEW OF 18th Apr 2012 AND UPDATE FOR 19th Apr 2012

NIFTY  FUTURE – 18^th  Apr  Recap

NIFTY FUT we that immediate resistance is at 5330 and above that market can go upto 5355 check the high made after market gapped up above 5330. It then failed to sustain at that level and fell to 5330 levels and lower. Few days back we emphasized that trading gap ups and gap downs we need to use levels smartly, resistance may become support and vice versa. Market gapped up and still closed above 5300, but failed to hold onto the curcial 5330 levels. What will happen tomorrow, will it break out, where to take the trade? Read our post for tomorrow

Our  subscribers booked that first loss today after a super 16 days of profitable run. They went long at 5351 and closed their trades at 5338 . Nevertheless the positional swing subcribers had a good day when they managed to book their overnight longs in good profit in the morning session itself.

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NIFTY FUTURE – 19^th   April Trading Guide

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NIFTY FUT now faces immediate resistance again at 5230 sustaining above which an upside of 5355-65 levels is on the cards. On the downside support now emerges at 5290 levels. Failure to hold onto that level will see a further slide in the market. Also bull players need to watch out for 5330 to be taken out with volume for further momentum. Momentum indicators are still in a mid range. Hence only a breakout or break down of the the recent tops and lows will signal the next wave of market direction.

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5370-75   sustaining above which it will target 5400,5455
POWERTRADE TREND DECIDER OF THE DAY ------- 5330-35
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5270-75
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5255,5225,5210

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

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