REVIEW OF 3rd Oct 2012 AND UPDATE FOR 4th Oct 2012

NIFTY FUTURE – 3^rd  OCT Recap

NIFTY FUT-traded within a narrow band of 25 points for most part of the day barring the closing moments where is managed to take out the day’s high and close on a positive note.  Believe a range bound and frustrating session for most of the intraday players. Other than that two things to write home about and observe for how it may span out in the coming sessions.
NIFTY FUT made a higher bottom formation just above out TREND DECIDER of the day today compared to the previous close. This was also possibly the only trading opportunity for today. Go long with Stops below the TREND DECIDER and target the BEARS last stand point of the day. which was marked at 5765 levels which NIFTY FUT attempted may a times and finally managed to close above it in closing sessions.
What is important is that the higher bottom formation today happened at a slightly higher volumes compared to previous session and also that it managed to close at a new high with higher volumes.
How is the coming session expected to span out ? What are the recent swing supports now to watch out for? Read our analysis for the next session.

POWERSTOCKS AUTOMATED SIGNALS:
 Going strong with our long in MARUTI, longs initiated at 1332, already target 2 Done, currently trading at 1364 levels.
Also current holdings are SBIN at 2270 and TCS at 1614. (Futures Levels).

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NIFTY FUT  traders went long at 5765 but decided to close the call near cost seeing no significant movement for most part of the session towards the closing stages of the day....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 – 4^th  OCT Trading Guide

NIFTY FUT –closed at  a new high more significantly above the previous high of 5765 which was an important level to watch out for. Now Immediate support emerges at 5730-40 trading zone. On intraday basis this level is important to be respected for the upmove to carry on. On the downside aggressive swing support now emerges at 5700-10 levels. Upside near term resistance now comes at 5790 levels and above that first major swing target comes at 5830 levels.
So, while this is the good part the cause of concern is that the index heavy weight BANKNIFTY has not been particularly supportive and is still trading off the previous highs recently created. Second interesting thing to note is that stocks from defensive sectors (pharma) are ploughing back from the lows. We would again still not call this a reversal or topping out yet until the swing lows hold. The next few sessions should give us more clues.

For intraday traders  we would ask to play for upside if NIFTY FUT respects the support of 5730-40 zones and similarly if it manages to trade below it look for short side trades with targets near 5710 levels.

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 Thursday: Play for long side trades above 5765 or in dips  with stops at 5730 levels and at the same time if NIFTY FUT sustains below 5740 levels look to take short trades with tight stops.

 POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5785-90   sustaining above which it will target 5805,5830,5860
POWERTRADE TREND DECIDER OF THE DAY ------- 5735-40
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5705-10
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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