REVIEW OF 8th Oct 2012 AND UPDATE FOR 9th Oct 2012

NIFTY FUTURE – 8^th  OCT Recap

NIFTY FUT- what a day it was. Believe the direction was clearly established once NIFTY FUT opened and traded below 5765 levels. This was clearly marked as the TREND DECIDER of the day as well. Look at the opening candle market just opened there and failed to sustain above it and drifted downwards. We had also mentioned that 5735-30 as the BULLS LAST STAND point and there was definitely a increase in downward momentum once that level was breached. NIFTY FUT found some intermediate support at our swing support level of 5710 levels  but eventually breached it to close below 5700 for the first time since the upmove of 28^th September. 
Our trading guide was also crystal clear and hope traders following the blog minted good returns.  Let us review our trading cue for Monday: “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”  


NIFTY FUT  today closed below 5700. Where do we expect support to emerge? Where will BULLS face hurdle now? Read our post for the next session
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POWERSTOCKS AUTOMATED SIGNALS:
 Booked profit in most of our long positions today and closed it our. Holding Long in TATASTEEL at some loss. Also booked very good intraday gains with our shorts on RELIANCE. All automated signals have been posted live at our Facebook and twitter page Review all that analysis at http://powertrades.blogspot.in/2012/09/how-high-performance-automated-signals.html

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NIFTY FUTURE – 9^th   OCT Trading Guide

NIFTY FUT –  closed below 5700 levels marking the first genuine correction day in this recent BULL run.  While mid term BULL run is still intact for short term players instead of holding longs it is key to see whether the support levels are respected and markets manages to bounce back from here or not. Also this has provided a good opportunity for contrarian traders to take very low risk short positions. NIFTY FUT now faces immediate resistance at 5710-15 levels and if it manages to surface above it should play strong to again test 5760 levels  on the upside. Downside swing support now emerges at  5670 and below that very important swing support is now at 5640 levels. Any close below that zone now can  will not auger well for the swing BULL players.  Short swing players can hold 5765 as the trend changing level for themselves again.
Short term Momentum indicators  are now negative and will continue to hold so until NIFTY FUT holds below 5711. Mid term momentum indicators remain neutral here and will be positive above 5765 and negative below 5640 levels on the downside.
Cues to Trade this Tuesday:  Look for quick long trades above 5711 with tight stops and at the same time if NIFTY FUT sustains below 5700 for sometime look to take short trade below today’s lows. Also look to take short trades in pull back to 5760 levels or  long trades in dips with stops below 5640 levels.

 POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5760-65   sustaining above which it will target 5790,5820,5860
POWERTRADE TREND DECIDER OF THE DAY ------- 5710-15
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5640-45
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5610,5580,5545

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.