REVIEW OF 24th Aug 2012 AND UPDATE FOR 27th Aug 2012

NIFTY FUTURE – 24^th     Aug  Recap

NIFTY FUT we had clearly been writing in the past few sessions that until 5470 levels are not taken out markets will see some long unwinding and dips. We wrote “NIFTY FUT immediate support remains at 5400 levels and a breach of that will see NIFTY FUT to test 5380 odd levels.”
 We had also mentioned that 5405 is a crucial support to watch out for. This level was being respected in the past 2 sessions. But On Friday NIFTY FUT opened below this level and failed to sustain above it drifted downwards. We had also written that the BULLS LAST STAND of the day is 5380 meaning a break of that would had put the control well and truly in BEARS hands, but market found exact support there at 5380 and managed to pull back to just above close near 5405 levels. This will be a crucial support to watch out. Overall a small range day for Nifty Future on an intra day basis. But even in this range our trading levels worked well. The lows created on Friday will be crucial to watch out for.
How to trade the coming sessions? Is the correction Done? When is it a good time to get into shorts or long positions with lower risks?  Read our trading analysis for next day.

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Our subscribers in NIFTY FUT went short in the early session below 5405 and booked profits near 5385 levels. This coupled with overnights shorts which gave decent gains.BankNifty Futures traders had overnight shorts plus took intraday shorts near 10420 and booked good gains till 10365 odd levels. Are you still worried about your trade entries? 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? Subscribe to our premium calls and leave your trade entry and exit worries to us. 

NIFTY FUTURE – 24^th     Aug Trading Guide

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NIFTY FUT on Friday managed to test the support levels of 5380 and bounce back and close just around 5405 levels giving hope that the support levels are being respected and the correction is not deep enough. On the downside 5380 has to be watched and a breach of that will pull down the markets to test 5355 levels. These are important support zones and expect some bounce back from here.Until 5350 is respected the mid-term trend remains on the upside and swing longs can be initiated in dips.  Given that we have expiry week ahead and also the fact that there is still no real push to clear 5470, expect markets to be lackluster within this range of 5400-5450  On the upside resistance zones now comes at 5425 levels and above that resistance comes at 5453 levels. Trading above that will seriously favor taking out of 5470 odd levels. Till the positional resistance level remains at 5478. Any sustained close above it and NIFTY FUT should move into a bull orbit challenging the highs of 5600-5700 in the coming months.
 Cues for Trading on Monday: Until NIFTY FUT remains in the range of 5400-5455 look for contrarian trades with stops at 5380 and 5475 respectively for intraday players. Look for a breakdown or a break out trade out of this range with tight stops.

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5450-55 sustaining above which it will target 5478,5490,5515
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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