REVIEW OF 22nd Aug 2012 AND UPDATE FOR 23rd Aug 2012

NIFTY FUTURE – 22^nd   Aug  Recap

Another day of spot on trading by our readers and subscribers alike. Look what we wrote as part of the trading cues for Wednesday “ Long in dips with stops near 5405 with higher targets” Even in the spike low in morning low made was 5405.5 levels. After that the stop level worked great do do all the upside targets. We also wrote that immediate hurdle emerges at 5450 levels. See where NIFTY FUT topped out. High made just above that level and failing to sustain there drifted downwards eventually.  We had also marked that the TREND DECIDER of the day was 5415 meaning trading above that zone NIFTY FUT will maintain a positive bias and below that will keep a negative bias. Also the fact that it maintained within the TREND DECIDER and the BEARS LAST STAND POINT ( Last resistance level , clearing which markets will breakout) signaled that NIFTY FUT remained range bound  for most part of the day.
How to trade the coming sessions? Will markets hold onto these levels? When is the point where it will breakdown or break out?  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 – 23^rd    Aug Trading Guide

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NIFTY FUT failed to clear the resistance level of 5450 and drifted down to make an exact low above the TREND DECIDER and managed to hold on to it on a closing basis.  Immediate hurdle remains just same as yesterday at 5450 levels and clearing that will attempt 5470-80 zones. Which is a true positional resistance zone And we are witnessing profit booking here below it for longs created over the past few sessions. 5478 will be the positional break out  level. Any sustained close above it and NIFTY FUT should move into a bull orbit challenging the highs of 5600-5700 in the coming months. But at the same time this is a level which has to be watched out on close to be convinced about it. On the downside immediate support for intra players emerges at 5400-05 levels and trading below which will attempt 5375-80 levels. If fails to hold on there we may see a quick slide to test the crucial support of 5355-60 on the downside. This will be crtical positional levels to watch out and any close below it will confirm a failed break out and eventually pull NIFTY down. Also note just as we wrote yesterday for a breakout above these levels NIFTY FUT will need support from Heavy weight BANKNIFTY which has been an underperformed so far in this recent run.
Short term momentum is neutral and medium term 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 Thursday:  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. Also look for a breakdown short below 5400 or 5375 for a confirmed breakdown.
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 ------- 5400-05
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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