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

NIFTY  FUTURE – 16^th  July Recap

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NIFTY FUT we mentioned that the TREND DECIDER of the day is 5270. Look at the intraday high marked in the charts (5261) and look at market reaction once 5270 was not take out.  We also mentioned that immediate downside support is at 5227 and a breach of that will test 5200 levels.  we also mentioned that until NIFTY FUT trades within the 520-5300 range NIFTY FUT will remain choppy and this was proven in the morning trend when markets again traded within a narrow range for most part of the day until the lows were taken out during the late trading sessions. Markets volume remained muted until the late sessions of the day when 5220 was convincingly broken. But overall volumes still remained low. Markets need some drivers to move out of this trading range of 5300-5175 for deciding the next long term course on NIFTY FUTURES.

Our NIFTY FUT traders had a tough day today going long near 5240 and getting a hit at 5220 levels. But the icing on the cake was our BANKNIFTY subscribers who went long above 10640 and booked some profits in nick of time near 10703 levels....... Where to take the next trade? Did you catch the move in the right time?..... 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 – 17^th  July Trading Guide

NIFTY FUT traders had been having a tough going this month so far, where markets exhibited lower volumes and trading ranges for most of the trading sessions. NIFTY FUT has witnessed only few major momentum moves  in intermittent sessions and late moves during the days, giving intra traders very little trading range or time to capture the moves. NIFTY FUT tested our positional support of 5200 levels today  and managed to hold it. This 5175-5200 is the positional support zone and we maintain positional longs to hold until these levels hold. NIFTY FUT now faces immediate resistance at 5230 levels and if managing to trade above it will test 5260 levels and higher. Short term momentum indicators remain negative now until NIFTY FUT manages to crawl above 5275 levels.

Please note these are not just pivot points. These are trading levels where we believe market momentum is in inflection points and are meant to provide guidance to traders.

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5270-75 sustaining above which it will target 5305,5325,5355
POWERTRADE TREND DECIDER OF THE DAY ------- 5230-35
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5175-80
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5155,5135
Detailed analysis also posted at www.powertrades.blogspot.com

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