REVIEW OF 31st July 2012 AND UPDATE FOR 1st Aug 2012

NIFTY FUTURE – 31^st  July Recap

NIFTY FUT we mentioned that the immediate resistance is at 5229 levels. Look at the market reaction in the morning. In the opening session NIFTY FUT despite a gap up, not even a single candle failed to close above this level. NIFTY FUT then drifted down to take some intermediate support at our TREND DECIDER level and then drifted down to make a low just above BULLS LAST STAND point. NIFTY FUT took support there and pulled back smartly to test the highs again and go beyond it as well. We had clearly written to create contrarian longs in dips keeping a level of 5150 in mind. That worked brilliantly for all our readers. Market low created above our advised stop level of 5150 and pulled back all the way.

Our NIFTY FUT traders had another fantastic day in a row going long near 5200 levels and booking profits all the way till 5230 zones. Our BANKNIFTY Subscribers too went long near 10370 and booked profits all the way till 10430 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 – 1st July Trading Guide

NIFTY FUT made a low above 5150 levels today and smartly pulled back to close marginally above 5230 levels which was the immediate zone to watch out for. NIFTY FUT if manages to hold above 5230 levels will face immediate resistance at 5270 levels.If NIFTY FUT FUT manages to trade above 5270 will test the zone of 5300 levels. On the downside a breach of 5230 levels will test 5200 odd levels again. Immediate momentum will remain positive until NIFTY FUT trades above 5230 levels.
How to play this intraday: Use 5230 as the trend decider and create longs above it , else risky shorts can be taken below this levels for targets near 5200. Or safe traders can try to take a contrarian long trade just like yesterday in dips to 5200 levels.  Short term and midterm momentum indicators remain positive for now and until 5200 levels hold on intra day basis upward bias will remain intact.


POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5265-75 sustaining above which it will target 5290,5320,5360
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 ----5185,5155,5135

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

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