REVIEW OF 30th Aug 2012 AND UPDATE FOR 31st Aug 2012

NIFTY FUTURE – 30^th     Aug  Recap

NIFTY FUT at the expense of sounding slightly boastful let us just review what we wrote before today “ Lets look at the longer trend, Crucial retracements and supports emerge out at 5245-55. This has to be watched out.”   We maintained that support may emerge out at this level. Why this is important is that we wrote this before the day and against the current trend of NIFTY FUT almost exactly predicting the low. (NIFTY FUT Low made just at 5255). We also wrote as part of cues for trading on 30^th –“ contrarian players can look for pull back longs with stops below 5245.”   This trade yielded terrific results for contrarian players.
We also wrote that resistance emerges at 5320 levels and that’s exactly where NIFTY FUT upmove paused at. During the upmove.
Our apology to have sounded upbeat get getting it that close against the trend was fun.
Also let us quickly review how levels worked. NIFTY FUT BULLS LAST STAND point indicated at 5285 levels. And for  god part of the until NIFTY FUT held below that zone any upmove was challenged. Morning high was just below that level and NIFTY moved downwards to challenge the crucial support levels.

How does the next series hold? What are the cues to watch out for? What are the trading levels  now?
Smartsignals BANKNIFTY Futures update:  Yesterday smartsignals advised us to go short at 10060 and indicated a target of 9970 levels.Today low made in bank nifty futures was at 9963 just doing the target, giving away another 100 points of gains. Totaling a massive 643 odd points in just the last three trades.

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Our subscribers in NIFTY FUT  went long  in dips with support levels as indicated but since it was expiry we advised an early exit and hence safe players missed most of the upmove. Nevertheless we had a terrific trading month, trading with our subscriber friends. 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 – 31st    Aug Trading Guide

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NIFTY FUT made a low exactly at our positional and managed to pull back to close just a shade under 5320. 5320 is an immediate resistance level to watch out for and if this is now taken out NIFTY FUT will attempt 5350-55 on the upside.  Where we should again see this recent upmove challenged. On the downside NIFTY FUT will find support again at 5280-85 levels and if these levels are sustained NIFTY FUT will attempt to pull back. In case if NIFTY FUT fails to hold on to 5280 odd levels this time. We might see the support levels of 5250 being threatened too. For now again immediate short term momentum is positive, this will remain so until NIFTY FUT manages to hold on above 5280 levels. Again at the same time the mid term momentum remains negative until NIFTY FUT holds below 5355 or until new levels emerge out in the coming sessions.
Wish you all a happy, learning and successful trading month again.

Cues for Trading on Friday: Keep the larger range of 5280 and 5320 in mind and look for pull back contrarian trades within this range and at the same time look for breakout and breakdown trade outside this range, that is shorts below 5280 and long above 5325 with 20-25 points odd stops.

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5350-55 sustaining above which it will target 5478,5490,5406,5425
POWERTRADE TREND DECIDER OF THE DAY ------- 5320-25
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5280-85
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5265,5250,5232

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

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