REVIEW OF 7th & 8th Sep 2012 AND UPDATE FOR 10th Sep 2012

NIFTY FUTURE – 7^th and 8^th  Sep Recap

NIFTY FUT as our pre market analysis we had clearly advised all our readers to look only for a breakout trade above the trading range for the past two sessions. Aided by global cues and strong US close markets gapped up above the trading range significantly. No how to make sure whether the gap up will hold or not. Ideal thing is to wait for a while and see if it manages to hold above the BEARS LAST STAND POINT level and which it did on Friday, one becomes pretty sure that the BEARS will have a little chance for the rest of the trading session and one should only look for Buy side trades. NIFTY FUT moved up doing all our upside targets exactly.
This is exactly what happened on Friday. Also we have been clearly writing the that the momentum will shift in favor of BULLS if NIFTY FUT moves above 5325 levels, look at the Open low (Low made 5326) that was a double confirmation to look for long side trades.
We had also written that the acid test level for NIFTY FUT is 5355 and this proved to be a significant hurdle for most part of the day but during the closing minutes NIFTY FUT managed to clear that out and close above it.
This proved as a support level again for the session on Saturday. Since markets were holding above that range BULLS were safe in the truncated 1 hour session.

Also let us do a quick review for our swing traders, we had marked that positional support is at 5245 level and market failed to give a single major close below It. We had maintained all through last week that until that level is breached the long term trend remains on the upside.  Now that this levels is  again respected we have seen a massive pull back of 120+ points from those levels.
Markets have managed a close above 5355 levels, now what is next? Where are the next resistance levels to watch out for? Where should we take the next trade? Read our trading guide for next session.

 

NIFTY FUT traders went long above 5335 levels and booked their final profit just during the closing session of  the day around 5360 levels as we were running out of time. We had terrific run in stock calls with Longs in ICICI Futures, RELCAPITAL and INFY going great guns. …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 – 10^th Sep Trading Guide

NIFTY FUT had a strong upmove on Friday and also managed to make a marginally new high. This means that NIFTY FUT has managed to close above 5355 our acid test levels for BULLS. This also justifies our swing analysis where we have written in the past few sessions that until 5240 is decisively broken Long term uptrend is intact. NIFTY FUT now faces  immediate resistance at 5375 level and this will be extremely important to watch out In the next session. In case if NIFTY FUT manages to move above this zone next crucial resistance level comes at 5416 zones.
On the downside in case NIFTY FUT breaches 5350 levels it will find support at 5325-30 levels and this should hold for now. In case this level is breached it could well mean a failed break out.
Now until NIFTY FUT manages to hold above 5350 short term momentum indicators will remain positive and mid term indicators also hold positive now until 5280-85 levels are held.

Cues to trade the Next Monday: Look for a break out trade above 5377 and at the same time look for pull back longs near 5350 with stops below 5320 levels. In the late session if NIFTY FUT fails to clear out 5375 levels aggressive players can look to short with below it with 20 odd point stops.

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5375-80 sustaining above which it will target 5395,5416, 5445
POWERTRADE TREND DECIDER OF THE DAY ------- 5320-25
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5280-85
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5265,5245

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

We at Powertrade believe A Successful Trade is a result of the finest blending of absolute money management skills along with time tested analytical skills refined with conviction. So if you need expert hand holding advisory services to make money trading these levels Register @www.powertrade.co.in and subscribe to our Premium Packages which are loaded with Points Commitment Challenge.