REVIEW OF 5th Oct 2012 AND UPDATE FOR 8th Oct 2012

NIFTY FUTURE – 5^th  OCT Recap

NIFTY FUT- What a day of panic and surprise. Markets saw a rare technical glitch and a moment of madness. But days like these always serve as a reminder as to how important it is to play within one’s limit and never to risk a high stake at any particular trade or a period of time.
Believe the erratic move took away a lot from the market on Friday and most folks would have decided to take it off and watch from sidelines for a good period of time.
We had mentioned that the next swing resistance is at 5860 levels. This is exactly where markets made an open high and dipped to test previous support levels. After that we had the panic glitch and then markets took a deep nose dive.
Intraday wise while the levels still perfectly played well there is no point trying to take credit for this today, as the reactions were due to a different cause.
Had posted a reaction and few thoughts on the exchange’s and regulator’s reaction to the technical/system failure. What is dis heartening is as we mentioned that while a failure both human or system is perfectly ok to have. The idea is to have effective filters to ensure such failures don’t pass through.
Secondly the after reaction was also not much in positive light. What are we trying to achieve in passing the buck to a single broker and making them a scape goat. Was their’s the only orders that got executed during that instance? Also there has to be some clear clarity in the explanation as to why it happened. How the markets went beyond a permissible circuit level.  Instead they came out with certain generic statements as to erroneous trades were punched and so on.  There has to be case in detailing out the mechanism and explaining the chain of reactions. Some transparency will only serve better. The idea is let us try to explain to the people and share information and leave it to them to decide how they comprehend it.


NIFTY FUT today’s lows and close is extremely critical. Why are these levels important what holds ahead for NIFTY FUT? Read our post for the next session
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NIFTY FUTURE – 8^th   OCT Trading Guide

NIFTY FUT – Markets plummeted and created a low on at 5732. This is just above the previous break out zone of 5711 that we have mentioned and discussed about a lot few sessions back. This level will be critical to hold on for the mid term upmove to continue and sustain. NIFTY FUT have been forming a higher bottom formation in this upmove and this trend line is so far intact. Swing players watch out for this trend line as the make or break line ( Connect lows of 5644 and 5732 to draw the trend line).
Also long players can take some cognizance from the fact that NIFTY FUT managed to bounce back above 5765 and close marginally above it.
Immediate support will be this level of 5760 zone and below that support will come at 5730 levels. on the upside immediate hurdle comes at 5800 levels and clearing it will give a serious chance to attempt 5830 levels.
Swing resistance remains at 5860 levels. This level have to be cleared in next few session if we are looking for more upside in this rally. Else its  time to take a breather.
 Above that resistance levels are 5900 and 6003.
Short term Momentum indicators are now neutral and will emerge positive above 5800 levels only.
Cues to Trade this Monday: Look to initiate long trades if NIFTY FUT holds above 5760 levels or move above 5805. On the upside short players may look to take short trades in case NIFTY FUT fails to clear 5830 levels or on downside dips below 5760 levels

 POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5825-30   sustaining above which it will target 5860,5895,5940
POWERTRADE TREND DECIDER OF THE DAY ------- 5760-65
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5725-30
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5710,5675,5645

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

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