REVIEW OF 9th Nov 2012 and Update for 10th Nov 2012

NIFTY FUTURE – 9^th Nov Review

NIFTY FUT- On Firday marked a day of serious correction. In the Morning markets opened and traded above the BEARS LAST STAND point for a while but once that was failed to sustain. It gave first sign of markets trying to trade weak. Coupled with the fact that markets were trading below the swing resistance zone of 5830 as well.
Once that level was broken markets again found exact resistance at our BEARS LAST STAND POINT and failing to clear that the next time it corrected to test the TREND DECIDER of the day and even lower levels. to breach the BULLS LAST STAND POINT of the day. Again see the impact of the fall once that level was breached.
Markets on Friday corrected severely to test the lows and swing support zones of 5700. This is exactly what we had marked out as our support level too.
With the correction on Friday? What to expect I coming sessions? How to trade the markets now?

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NIFTY FUTURE – 12^th November Trading Guide

NIFTY FUT – tested the crucial support levels of 5700 and barely managed to hold on to it. Even in that case the pace of the fall is a very bad sign for long players. This also coupled with the fact that for 3 consecutive trading sessions markets failed to clear the swing resistance zones of 5830 was also a sign that BULLS are not finding it easy.
Now NIFTY FUT again is back to the tough trading range that we had witnessed in the previous month. And will continue to play with the same set of resistances and support until it breaks out on either side of the trading range of 5620 on the lower side and 5830 on the upper side.
Immediate trading levels: Now resistance comes at 5730-40 zone again and above that at 5770-80 levels . On the downside support now is at yesterday’s lows and a breach of that is sure to test 5680 levels. Below that a support buffer zone comes  at 5655-65 levels.

With the severe move that we witnessed short term momentum indicators now are negative and will continue to do so until markets trade below 5740 levels. Mid term momentum indicators will also turn negative below 5700 levels now..
As for trading today the levels are as follows:

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5775-80   sustaining above which it will target 5800,5830,5870
POWERTRADE TREND DECIDER OF THE DAY ------- 5730-40
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5700-10
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5680,5665,5635

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