REVIEW OF 6th Aug 2012 AND UPDATE FOR 7th Aug 2012

NIFTY FUTURE – 6^th  Aug  Recap

NIFTY FUT we wrote that has resistance at 5280 levels and above that will attempt 5300 to 5320 levels. look what happened once markets had a gap up opening. Once managed to open above 5280 this was treated as a support and markets made low there twice to pull back and hold near 5300 levels. Also since it was trading above our BEARS LAST STAND point there was no hint of going short and it was justified by how the markets held up. From an intraday perspective overall all a range bound session without giving any significant opportunities. But hopefully following our levels would had given two minor scalping opportunities.

Our NIFTY FUT went long near 5280 as per our blog advice and booked profits near 5303 not seeing any significant strength in the movement......... 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 – 7^th   Aug Trading Guide

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NIFTY FUT had one of the highest closings in recent times thanks to a massive gap up enabled by global cues. And trading above crucial resistance levels it held on to close near 5300. Yesterday’s range was a small candle indicating lack of momentum on either side. Hence the high and low of yesterday will become crucial in the coming sessions. NIFTY FUT faces immediate hurdle at 5320 and trading above which will attempt 5360 levels which should be a significant hurdle. If Manages to move above it with volumes and close then rest assured we are back in serious BULL orbit. On the downside NIFTY FUT has immediate support at 5280 levels and a breach of that will test 5255 and lower levels.
Immediate short term momentum indicators remain positive as long as NIFTY FUT manages to trade above 5280. While the midterm indicators are also in positive territory for quite some time.
Cues for Trading Today: Look for break out longs above the hurdle levels or look for long in dips near 5280 aggressive traders can try shorts below 5280 or on higher sides with 5265 odd levels as SL.Long players trade with tight stops in case trade is initiated above 5320.

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 -----5320-25 sustaining above which it will target 5340,5365,5395
POWERTRADE TREND DECIDER OF THE DAY ------- 527580
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5255-60
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5245,5230

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

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