REVIEW OF 21st Aug 2012 AND UPDATE FOR 22nd Aug 2012

NIFTY FUTURE – 21^st  Aug  Recap

NIFTY FUT we again spot on with the analysis. We clearly wrote that “ 5375 has to hold for the upmove to resume”. Look at the market reaction once NIFTY FUT held on above that level markets pulled back to break out and clear the highs. Lets review our CUES TO TRADE: we wrote if markets hold above 5375 look for longs with stops there also look for breakout longs above 5425. It proved to be a fruitful advice both for contrarian and trend traders. 5405 was marked as an immediate hurdle and once it was cleared markets tested 5425 and above the moved into BULL orbit. Our analysis for positional players few days back was to go long in all dips with 5320 as SL. The positional swings calls are doing nice too. How to trade the coming sessions? Should I look for a break out? What levels will positional short coverings likely to occur?  Read our trading analysis for next day.

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Our subscribers in NIFTY FUT had a ballistic trading session going long above 5405 just exactly as advised in the blog and booking handsome profits all the way till 5439 levels.Are you missing on these turning points entries? How about looking at our points guaranteed services. …... 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 – 22^nd    Aug Trading Guide

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NIFTY FUT -as had been our trading direction in the past few sessions broke out above the trading range to close at the highs. Hopefully giving handsome gains to lot of our readers. Having closed at near 5440 levels now immediate support emerges at 5415-20 levels. Trading below it will drift to test 5400 and below it strong positional support emerges at 5375 levels. This should also be maintained as the positional stops. On the upside if manages to move above 5450 will likely to test our positional targets of 5470 levels. This can be a  short term profit booking zone for sure for swing players. Any  sustained breakout above these levels will mean serious long term bulls are back and a close above this range has to be seriously watched  Also expect some serious short covering to happen both in NIFTY and BANKNIFTY futures only above a sustained move above this zone. This could also result in some quick run up rally for another few percentages in the coming sessions. For this to happen NIFTY FUT will also need support from the heavy weight bankindex (banknifty) which has been a sort of underperformer in the recent run up.
Short term and medium to momentum remains bullish at this zone but we also advice some profit booking now at higher levels and pause either for dips or new trading levels to emerge out.

 Cues for Trading on wednesday:  Look for breakout longs above 5450 levels with tight stops  and at the same time look for longs in dips with stops around 5405 levels for higher targets. In case during the mid session if NIFTY FUT fails to breakout  above 5470 levels contrarian risky shorts may yield quick profits too. Safe traders stick to longs mostly though.

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5470-75   sustaining above which it will target 5490,5515,5565
POWERTRADE TREND DECIDER OF THE DAY ------- 5415-20
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5375-80
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5355,5325

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

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