REVIEW OF 18th Sep 2012 AND UPDATE FOR 20th Sep 2012

NIFTY FUTURE – 18^th   Sep Recap

NIFTY FUT- had a day where all of us were left to wonder where all the momentum is. A very range bound and narrow day where the entire movement was merely restricted to 30 odd points. Allowing little for intraday players.
Few days back we had written on how to figure out if the day is range bound and restrictive. One of the best and simple tools to do that is to refer to the trading levels and the range between them. Look at the market reaction today, the entire trading range was restricted within the BULLS LAST stand point and the TREND DECIDER of the day. If the market hovers mostly within any two trading range within a good part of the session, it becomes pretty apparent that the day is range bound and its better to stay out and wait for a clear breakout or break down.

Today the high couldn’t cross the TREND DECIDER indicating a slight negative bias and at the same time low was made exactly above the BULLS LAST STAND point, which it just managed to hold on to and close above 5600 levels.

In the recent run BANKNIFTY has pretty much caught up with NIFTY, we had mentioned until few weeks back that the BANKNIFTY has been an underperformer and now it is doing the catching up job providing some trading opportunity too for intraday traders.

Markets managed a successive close above 5600? What are the levels below/above which can we expect a major move? Read on our post for the next session.

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NIFTY FUT intraday longs were taken around 5625 but seeing lack of movement closed out near 5620 levels towards the later stages of the day. Had a good trade in BANKNIFTY where we went long above 11030 and booked gains exactly around 11080.Make it a big day for your trading.  And leave your trading worries to us…Looking for decisive trade entries?.. 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 – 20^th Sep Trading Guide

NIFTY FUT despite a range bound move managed to safely close above 5600 in a very range bound session.
Now the support of 5595-5600 becomes extremely crucial and a breach of that can mean some short term negativity. Below that immediate support comes at 5570-75 zones which is a retracement level any breach of that can test the levels of 5525-30 where we should expect some support to come in. in case that level is tested.  On the upside only a move above 5640 now can test 5675 levels.  Since we had a very range bound day it is better to look for break of this trading range to initiate any trades.
Crucial positional resistance comes at 5700-10 zone on the upside. Only if we manage to clear this level will a see a further upmove to test new highs. This level is a multiple retracement zone and all contrarian swing players should clearly mark this out in their charts.
In the coming sessions there are two eventualities that can happen. 1. A correction below 5520 and test of some support levels before we pull back again or 2. If the mood is strong enough we can see some consolidation in this zone itself and a pull back from here. Both of these may provide good swing opportunities in coming sessions when the upside and downside swing levels are tested.

Cues to trade this Wednesday: Clearly look for a breakdown trade below 5595 or a breakout trade above 5640. Else avoid trading within this range.

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5635-40 sustaining above which it will target 5665,95,5710
POWERTRADE TREND DECIDER OF THE DAY ------- 5595-5600
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5565-70
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5555,5525,5475

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

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