REVIEW OF 5th Sep 2012 AND UPDATE FOR 6th Sep 2012

NIFTY FUTURE – 5^th Sep Recap

NIFTY FUT just a quick review of our pre-market trade advisory:” Look for 5280 again as the key level… look for a break down trade below 5278 with 25 odd points stops again.” And just look at the morning high made on the charts today (High Made 5279.95). Couldn’t have got closer than that. No points for guessing this time what was our on market advisory to clients as well.
Thanks to global cues markets opened gap down just below that level and once it was trading below this level (Also marked as our TREND DECIDER) markets drifted downwards and tested the crucial support levels of 5245 which was marked as our positional support for quite some time. From there we saw some pull back to try and attempt to recover just like yesterday. But a failed pull back eventually meant that the low was tested and broken.
Brilliant trading sessions as per our levels again.
We have been clearly warning that yesterday’s pull back was accompanied by lower volumes and we at least need NIFTY FUT to clear out 5325 levels on the upside for some short term longs to be confirmed. Our position on that was justified.
Markets broke through 5240. And managed to close above it? Next is what? How to trade the coming session?

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NIFTY FUT traders were advised to short below 5278 just as advised and booked profits all the way till 5251 levels. Star trade of the day was with BankNifty Futures where we went short below 10,000 and booked profits all the way till 9893 levels giving away massive gains, more than wiping away the 14 points loss yesterday. 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 – 6^th Sep Trading Guide

NIFTY FUT tested and broke the crucial support levels of 5240 but at the same time managed to close marginally above it. This will be the first and the most crucial thing to watch out in the next session. If the levels hold up on a sustained basis, will mean it was only a spike breakdown and BULLS can breathe a little easy. At the same time a confirmed pull back will only be ensured if NIFTY FUT moves above 5280 levels on the upside. Else best call that as a wait and watch zone.  Immediate resistance too now comes at 5275-80 levels and trading above that level will again attempt 5305 odd levels. Acid test for BULLS still remain as the crucial level of 5325 levels on the upside.
On the downside a breach of 5240-45 levels will mean that short players will continue to have some more free run.
Next support levels emerge at  5232 and a breach of it will test 5215 and 5198 levels on the downside.
5175-88 levels are the next major target for the short players in case NIFTY FUT moves below the zone of 5240.
Long term momentum indicators just barely manage to hold neutral to positive until 5240 holds. But at the same time the short term and mid term momentum indicator are now in negative territory and will continue to be so until a minimum of 5280 levels are taken out.

Cues for trading this Thursday: Safe traders look to short on rise till 5280 levels with SL above 5305 or a break down trade below 5240. At the same time if NIFTY FUT manages to hold on to 5245 for the first half of the day, look for a quick pull back contrarian trade with stops  at 5240.
POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5278-80 sustaining above which it will target 5305,5325,5355
POWERTRADE TREND DECIDER OF THE DAY ------- 5240-45
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5198-5205
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5188,5175,5155

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

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