REVIEW OF 17th May 2012 AND UPDATE FOR 18th May 2012

NIFTY  FUTURE – 17^th  May  Recap

NIFTY FUT we mentioned that “trading above yesterdays high can indicate some more pull back in coming sessions. Positionally the outlook still remains weak”  and look how the day spanned out, Once in the morning session NIFTY FUT opened and traded above yesterday’s high it moved upwards to test our BULLS LAST STANDPOINT and made a high below it, indicating the weakness is still not over. From there NIFTY FUT fell all the way to test the TREND DECIDER again and make a low near 4850. We clearly wrote yesterday’s low is crucial and may not break in a hurry, and the low’s did get respected atleast for today. What to expect in coming sessions read on ?

Our subscribers went short below 4880 our TREND DECIDER LEVELS and booked good profits all the way till 4856.We have been having a terrific run and we also warn all readers that it may not be always like this, but a disciplined approach to trading will surely make us profitable more often than not. Are you still guessing where to trade.Did you take a similar trade and captured the opportunity? Are you still worried where to take the trade entries? Subscribe to our premium calls and leave your trade entry and exit worries to us. 

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NIFTY FUTURE – 18^th May Trading Guide

NIFTY FUT again closed below 4850 levels which is not a great sign and might just indicate the weakness will continue if markets break 4825 levels with volumes. On the upside crucial resistance remains at 4880-85 zones and on the downside support still is at 4825-35 levels. As have been clearly mentioned in the post last we already have seen good range contraction in the charts for the past few days, so sooner or later we may just see another range breakout or a big movement day. BULLS Will breathe easy now only above a close above 4905-10 levels. And trading above that can test 4985 levels in coming sessions. Positionally the outlook still remains as mentioned in the last post.

 POWERTRADE BEARS LAST STAND POINT OF THE DAY -----4905-10  sustaining above which it will target 4925,4955,4985
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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