Review of 19th Nov and Update for 20th Nov 2012

NIFTY FUTURE – Review of 19^th November

NIFTY FUT-  Today was a day of consolidation and trading within a range. We had mentioned that 5610-15 was a resistance zone and markets opened in the morning topped out just there and fell down to test yesterday’s lows and marked a marginally lower low.
This was also in line with our swing target supports that we mentioned that support lies in the trading zone of 5545.This was respected as of today. We have to watch out in the coming few sessions if the lows of today are respected and if NIFTY FUT manages to bounce back from this zone.
Today again our trading levels worked pretty fine Markets exactly retraced from our BEARS LAST Stand point. And during the closing stages managed to pull back towards that zone and close around there.
What are the important trading levels to watch out for tomorrow? Read our post for the next session.

Readers may also mark our blog : powertrades.blogspot

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NIFTY FUTURE – 20^th  November Trading Guide

NIFTY FUT – nearly formed an inside day candle today almost making a double bottom at the same level as yesterday. The fact that this level almost co incides with the swing trading support zones of 5545 levels makes it even more important. At the same time there is nothing that we can take away from the Bears given the pace of the fall that we witnessed last Friday. Was it a mere consolidation today or have we formed a near term bottom.
The best way to judge this in the short term is to look out for today’s low as a support and on the upside the resistance level of 5630-40. A clear of either of this should give further direction to the move. Once of this level is cleared we can be certain of the trading direction. As per intraday level immediate resistance again emerges at 5610-15 zones and support now emerges at 5580 levels. If NIFTY FUT manages to sustain above 5610 expect the trading levels of 5640 to be tested  on upside. On the downside a breach of 5580 again will pull it down to give a potential test of 5560 levels and the swing support levels below it.
Momentum wise both the swing indicators that is short term and long term continue to trade in the negative territory . short term indicators will continue to trade negative until NIFTY FUT holds below 5620. The Mid term indicators remain negative until NIFTY FUT clears 5660 levels.

As for trading today the levels are as follows:

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5610-15    sustaining above which it will target 5635, 5665
POWERTRADE TREND DECIDER OF THE DAY ------- 5575-80
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5545-50
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5510,5480

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

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