REVIEW OF 3rd May 2012 AND UPDATE FOR 4th May 2012

NIFTY  FUTURE – 3^rd  May  Recap

NIFTY FUT we mentioned yesterday that 5230-35 is they key support and also few days back we discussed that how to trade Gap Ups and Gap Downs. Once NIFTY FUT opened below that zone.It failed to cross it all through the day, giving our readers and subscribers a good trading opportunity. In case of a Gap down the Support now started acting as a resistance and see the High made, exactly at our marked level. We also mentioned that 5200 zone will be a key to watch out. How closely markets did cling on to this level and only broke down momentarily during the closing hours. Even on a range bound day our readers had the correct opportunities identified.

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NIFTY FUTURE – 4^th May Trading Guide

NIFTY FUT now has immediate support at 5230-35. Crucial Support also emerges in the 5182-5195 support band. Trading above 5235 NIFTY FUT will attempt 5255 levels and any sustained trading above that will bring the positional Bulls back.For Now NIFTY FUT looks weak and the last ray of hope for Bulls is to hold onto to the 5180 support zone. Ideal intraday trading strategy could be to short on rise until 5255 holds  or to go short on break of the near term support levels.

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5250-55   sustaining above which it will target 5280, 5300,5325
POWERTRADE TREND DECIDER OF THE DAY ------- 5230-35
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5185-90
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ----  5165,5145, 5120

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

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