REVIEW OF 20th Sep 2012 AND UPDATE FOR 21st Sep 2012

REVIEW OF 20^th Sep 2012 AND UPDATE FOR 21st Sep 2012

NIFTY FUTURE – 20th   Sep Recap

NIFTY FUT- had yet another rage bound day with a slight negative bias. Yet another test of an intraday trader’s patience and discipline and at the same time that of our levels. We had clearly written that 5600 was the immediate support zone and a breach of that can test around 5560-70 levels. NIFTY FUT pulled back and made an high exactly below it(Also our TREND DECIDER: 5595-5600). Markets high made at 5594.6 just below our level.  Again how do we recognize that the movement can be range bound and restrictive. Look at the trading levels NIFTY FUT again traded mostly between the TREND DECIDER and the BULLS LAST STAND point which were merely 30-40 points. This was a clear sign that markets are not doing much.  How do we trade them? Keep a time frame in mind and close positions if you don’t see much of a movement and look to initiate trades in a clear break of wither the upside range or the downside range. Remember the more time markets spend within a range at any time frame the chances of a good break increases.

Markets managed to test 5560 levels? what are the crucial swing support levels to watch out? What level will confirm a pullback? Read on our post for the next session.
POWERSTOCKS AUTOMATED SIGNALS: BAJAJ AUTO Buy give above 1760 blasted to 1805 levels on intraday basis.

Automated Stock Calls posted live at our facebook page : www.facebook.com/powertrade.trading
 

NIFTY FUT intraday short was initiated around 5575 and decided to close near cost during the late day sessions seeing no movement for most part of the day. we also fully exited our swing longs taken at 5350  levels today near 5575 levels.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 – 21^st  Sep Trading Guide

NIFTY FUT we had warned that 5600 was a crucial level and today it was breached  and also closed well below that zone. Immediate swing and positional support comes at 5520 zones and any sustained break of that will signal a deeper correction. Also if NIFTY FUT manages to hold on to these levels this will be a good place to create low risk contrarian longs with very small stops. On the upside immediate resistance now comes at 5580 and above that at 5602 .   Expect markets to continue to be direction less until NIFTY FUT trades within 5530-80 zones. Intraday traders are best done with looking for quick scalping contrarian trades within this range. BULLS players will only feel safe if NIFTY FUT manages to emerge out of 5602 on a sustained basis.
 despite a range bound move managed to safely close above 5600 in a very range bound session.
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.
Also yesterday we wrote that : 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.--- Today was more of scenario 2. This space has to be watched out for in the coming sessions.

Cues to trade this Thursday: Look for contrarian trades with 20 odd points stops within the trading range of 5520 on downside and 5580 on upside. Also look for a breakdown trade below 5520 levels or  a breakout trade above 5605 levels
POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5600-05 sustaining above which it will target 5635,5665,5695
POWERTRADE TREND DECIDER OF THE DAY ------- 5575-80
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5520-25
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5503, 5475, 5450

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

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