REVIEW OF 1st 2012 AND UPDATE FOR 2nd Aug 2012

NIFTY FUTURE – 1^st Aug  Recap

NIFTY FUT we mentioned that the if manages to trade above 5230 will attempt 5270 levels. Look at the market reaction once market opened. It sustained mostly above that level and above that made an exact high below 5270. Providing precise entry and exit opportunity for all our readers. We had clearly advised that create longs above 5230 levels and our levels worked perfectly today. Mentioned TREND DECIDER at 5230 (low made 5229) We also mentioned that the BEARS LAST STAND POINT as 5270 (High made 5266.8).
Markets traded in a narrow range today and with remarkably low volumes.  It will be critical to watch out today’s range going forward.

Our NIFTY FUT as exactly advised in our blog went long above 5230 and booked profits near 5260 levels in a smart trade today. BANKNIFTY FUT subscribers too had a good day going long around 10450 levels and booked profits in time at 10500 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. 

NIFTY FUTURE – 2^nd Aug Trading Guide

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NIFTY FUT had an interesting candle formation on daily charts, hence today’s high and low would be critical to watch out for immediate short term for aggressive traders. NIFTY FUT now faces immediate resistance at 5270 levels and trading above which will attempt the critical levels of 5300. On the downside now breach of 5240 will test should test 5200 levels where some support is likely to emerge. 
Markets having created a small trading range a breach of this range may give some movement on either side. Midterm momentum indicators look positive. Hence until 5180-5200 levels are respected short term upside may remain intact.
At the time of writing this post we are awaiting few high impact news from the US market  and that too will be important to watch out. For intraday traders aggressive traders can look to short below 5230 for some quick momentum gains while for long side trades look for breakout above 5270 or  look for long trades in dips to support zones as indicated.
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 5290,5320,5360
POWERTRADE TREND DECIDER OF THE DAY ------- 5225-30
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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