REVIEW OF 4th Sep 2012 AND UPDATE FOR 5th Sep 2012

NIFTY FUTURE – 4^th Sep Recap

NIFTY FUT, we have been writing and clearly mentioning out in the past few sessions that 5250 levels are a crucial support levels to watch out for. Lets Review what we wrote for 4^th Sept: “Immediate resistance now emerges at 5280-85 levels and if it sustains below this level in the opening session. Chances are high that NIFTY FUT will drift down to test the downside positional support levels of 5250 zone” Look back at the charts and see the market reaction. NIFTY FUT morning high just made at that level of 5280-85 levels and then pulled down to test our positional support levels of 5250 (low made at 5258). There it pulled back smartly to take out 5280 levels and closed a shade below our resistance levels mentioned at 5406 levels.  
A range bound yet a near perfect trading sessions vis-vis when compared to our pre market levels.
Let us review what we wrote as cues for trading: “Immediate resistance now emerges at 5280-85 levels and if it sustains below this level in the opening session. Chances are high that NIFTY FUT will drift down to test the downside positional support levels of 5250 zone”.  Just worked perfectly again.
Markets closed above 5300? Now what next? Is the short term correction done? Or some down move is still left?
Read our market post for the next session


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NIFTY FUT traders just as written in the blog went long at 5265 levels with stops at 5245 (breakdown level mentioned pre mkt) and closed the trade at 5294 levels. BankNifty Fut traders had a small loss today going short at 10010 and decided closed the trade out at 10025 after a failed test of 9970 breakdown levels. 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 – 5^th Sep Trading Guide

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NIFTY FUT managed to close above 5300 levels but the again the bad news this time is that the move was accompanied by lower than average volumes. Also now immediate resistance now remains at 5306 levels and trading above this level will test 5325 levels and above that the swing resistance of 5450 levels will be a key challenge level to watch out for.  A pull back with lower volumes so far seems more of an indication that the short terms shorts were apparently covered seeing a failed breakdown of 5250 levels. What will be key to watch out is if NIFTY FUT takes out 5325 on an immediate basis and 5350 levels on swing basis.
On the downside now 5280 will act as an immediate support level and a breach of that will again test 5250-60 levels. If NIFTY FUT breaks those levels we can see a quick test of 5225 and 5200 odd levels on the downside.
For the short term momentum will swing to positive above 5325 levels and mid term momentum indicators remain neutral to weak below 5350 levels. On the downside a breach of 5245 levels will turn this negative.
Lon term momentum continues to remain positive above 5245 level as well

Cues for trading this Wednesday: Look for 5280 again as the key level. In case markets move above 5406 levels go long with stops around 5280 as well look for a break down trade below 5278 with 25 odd points stops again.

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5320-25 sustaining above which it will target 5355,5285,5410
POWERTRADE TREND DECIDER OF THE DAY ------- 5278-82
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5345-50
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5232,5215,5195

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

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