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

NIFTY  FUTURE – 18^th  July Recap

NIFTY FUT we mentioned that will maintain a downward bias until it trades below 5235. We clearly advised to look for shorts until NIFTY FUT manages to trade below these levels. This analysis gave short traders an opportunity to initiate short trades early on. Also once NIFTY FUT managed to surface above 5200 levels it made an exact top near 5235 levels.

We also mentioned that the range of 5175-5200 will provide a positional support range markets marked a low exactly there before smartly pulling back to close just below the levels of 5235. What trade to take tomorrow read on?

Our NIFTY FUT traders went long above 5210 and booked profits at 5230. Unfortunately we  had a whipsaw in BANKNIFTY where traders lost 45 odd points..... 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 – 19^th  July Trading Guide

NIFTY FUT managed to test our crucial positional support and pulled back smartly to close just near 5235 levels. which all our readers were aware of. We had clearly mentioned that 5175-5200 is the positional support zone and our medium term bias will remain long until NIFTY FUT holds above that level. NIFTY FUT now faces immediate resistance at today’s close and trading above that will test 5265-75 levels. Any strong up move above it will test the crucial resistance levels of 5300. On the downside support now emerges at 5195-5200 levels and this should hold now for short term trend to remain intact. Volumes remain a concern and markets will really break out of  this range once it manages to move above 5275 convincingly or  breaks 5175 on the downside. Strong buying for bulls will only emerge if NIFTY FUT manages to surface above 5275. Keep an upward bias if NIFTY FUT moves above 5230 zones.
We decided to keep our Long positions in BankNifty Open for Longs taken near 10600, this is based on our positional support levels identified providng a low risk entry oppurtunity.lets see how it goes

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-------5195-5200
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ----5179, 5155,5135

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

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