Market’s corrected; what’s the next Trade?

We don’t intend to make huge claims that we knew it and get into a predicting game? Simply because we are not big enough to control the markets, and believe none of us are.

What we do differently is use comprehensive and yet very successful technical analysis to understand what the next move will be. The more refined the analysis, the probability increases for it being correct.

·         Analysis: We wrote in the past few sessions that positional resistance is 5470 levels, and clearly warned that expect profit booking until NIFTY FUT fails to clear it.  Check our blog posts. We have been writing that there has been good long unwinding at heavy weight counters and neither the PSU banking stocks have been supportive since Bank Nifty is an index heavy weight.

·         Action/Results: Our subscribers have been shorting heavily around 5450 zones and booked decent profits in a single trade.

(For more details on subscription visit www.powertrade.co.in or call at Number +91-9836737200. We would love to hear from you and suggest a custom trading plan to suit your trading objective)

·   Analysis: Smartsignals (Our Advanced automated trading signals)- which checks over 27 different parameters and indicators for every single minute  gave Banknifty Future shorts at 10510 levels.

·   Action/Result: Trade was posted real-time at http://www.facebook.com/powertrade.trading and we all know how it cracked to make a low near 10350 giving nearly 150 points (15,000 INR per 100 qty) in a single trade.

Smartsignals looks into so many different indicators to confirm a trade entry; - Wave calculations, momentum indicators, both short and medium term and more, way beyond a human mind can look into in a short span. Moreover it is free of any bias or noise of market news and predictions. Letting our traders make trade entries well in advance. Get Free access to this simply by liking our Facebook page.

What’s Next?   

                                                                           

Nifty Fut we had written that if 5405 cracks will test the crucial support zone of 5375-80 levels. That’s what exactly happened today when markets gapped down below that level and eventually went on to test that support zone, where it found some support to bounce back and manage to close above 5400 levels.

5375-80 is a crucial support zone to watch and a crack of that will test 5350 on the downside in quick time. For the intermediate Bull Run to remain these levels need to be respected. On the upside immediate resistance comes at 5425 levels and positional Resistance strong hold remains at 5478-78 levels. Only clearing that on sustained basis will we see some serious short covering to test higher levels. In between this zone and given that we have expiry week coming up expect markets to remain lackluster.

Stay tuned to our posts for more updates. Have a nice weekend ahead.