REVIEW OF 16th May 2012 AND UPDATE FOR 17th May 2012

NIFTY  FUTURE – 16^th  May  Recap

NIFTY FUT we mentioned that “have broken crucial support zones and it will really need some serious sustained buying to be able to pull back out of this” and see how markets spanned out after a day of pullback the other day. It went into a downward spiral after a gapdown opening. We mentioned that the BULLS LAST STAND point is 4965 and see how markets spanned out once it opened below that level. It clearly drifted downwards to do our downside targets. Our readers are already aware how our levels work as inflection points in the markets. Hope everyone went short in the morning sessions and booked decent profits.

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NIFTY FUTURE – 17^th May Trading Guide

NIFTY FUT today created a low at 4827 and managed to pull back to close a shade lower than the open levels. This low will be crucial now and has to watched out for.  NIFTY FUT now faces immediate resistance at 4880-85 and trading above which will attempt the next levels of 4905. Downside crucial support now emerges at 4825. NIFTY FUT looks oversold now on momentum charts hence trading above yesterdays high can indicate some more pull back in coming sessions. Positionally the outlook still remains weak and until postionally 4985 and then the crucial 5180 levels are taken out bears will love to go short on rise.


POWERTRADE BEARS LAST STAND POINT OF THE DAY -----4925-35  sustaining above which it will target 4955,4985,5005
POWERTRADE TREND DECIDER OF THE DAY ------- 4980-85
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------4820-25

Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ----   4800, 4765,4735

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

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