REVIEW OF 1st Oct 2012 AND UPDATE FOR 3rd Oct 2012

NIFTY FUTURE – 1^st OCT Recap

NIFTY FUT- Another range bound day and possibly understandably so given the fact that today was squeezed between two trading holidays. NIFTY FUT traded within a 40 points range for most part of the day. During the opening session NIFTY FUT found support above the previous break out range mentioned at 5711 levels.  This acted as a good support and once the previous high was taken out above 5735 range markets pulled up and looked strong. This was also the TREND DECIDER of the day and once that was surpassed it looked good. High made just below our previous targets of 5760 and also our swing break out level.
Nothing much to write home about other than this.
Ok here goes the little quiz for the day: This one is for those who love Fibonacci retracements. Today’s open low was made at 5718 levels. This is also a 38% retracement of a previous swing. So what levels are we referring to?
Read answers to this and also much more in our trading guide for the next session.


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NIFTY FUT  traders went long above 5735 levels and booked profits around5752 at the time when markets were coming to close. No trades were taken in banknifty futures today....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 – 3rd  Oct Trading Guide

NIFTY FUT – First the clue for the quiz of the day- NIFTY FUT made an open low just at 5718 levels. This was the 38% retracement of the recent swing of the lows of around 5640 and the high of 5765 . Hence this level and below that around 5700 level  will prove as a near term crucial support in the upcoming sessions.  These levels can be used as a trailing stop for swing traders if markets manage to move above 5765 levels. NIFTY FUT made a crucial close just below the break out levels at 5760. Immediate resistance now comes at 5760 and if NIFTY FUT manages to trade above it  has serious potential of attempting 5800 and 5830 levels on the upside.
Downside support now emerges at 5730 levels and below that the support zone is at 5710-20 levels.  On daily candle basis NIFTY FUT has engulfed and covered almost the entire range of Friday’s close  and this indicates a strong reversal . This reversal will only hold true now if NIFTY FUT manages to hold take out 5765 levels which is now a decisive top in daily candles.
Momentum indicator wise now all indicators are on positive side and short term indicators will hold true until NIFTY FUT holds above 5730 levels.
Cues to Trade this Wednesday: Look to long NIFTY FUT above 5765 or in dips to 5730 levels.  On the other side if NIFTY FUT trades below 5730 look to short below it with tight stops.

 POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5760-65   sustaining above which it will target 5795,5830,5860
POWERTRADE TREND DECIDER OF THE DAY ------- 5730-35
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5700-05
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5670,5645,5615

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

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