Review of 21st Dec and Update for 24th Dec 2012

NIFTY FUTURE – Review of 21^st December

NIFTY FUT- We had mentioned that 5890 will be the crucial levels to watch out for below 5920 . This was highlighted quite a few times in the past few sessions. On Friday NIFTY FUT opened around that level and once failed to sustain below it fell down to test the crucial swing levels of 5865. We also wrote that NIFTY FUT will tend to trade negative below that zone and chances are if 5865 was tested it will tend to get broken. This is exactly what happened today as NIFTY FUT pulled down from those levels.
Also see how effectively the levels worked 5890 was the BULLS LAST STAND point of the day and below that it was signified that market will trade favor the bears. A break of that confirmed the downmove as well.
Market has ringed in the warning bells for the BULLS as market gave a significant closing  below 5865. What is up next ? read our detailed analysis for the next session.

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What are the key levels to watch out for in the next sessions this week?  Read our detailed analysis for the next session.

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NIFTY FUTURE – 24^th  December Trading Guide

NIFTY FUT since it closed below 5865, this will now form as the immediate hurdle zone that is 5865-70 levels and trading above that zone will again tend to test 5895-5905 zone on the upside.Now above that 5920-25 will form as the immediate swing resistance zones.
On the downside now immediate support comes at 5825-30 and this should offer some supply. In case NIFTY FUT manages to move below that level expect further weakness and NIFTY FUT to tumble lower to test 5790 on the downside.
The short term momentum indicators  are now negative and will continue to hold so until NIFTY FUT holds below 5905 levels. The Mid term momentum indicator has also now turned negative and will hold so until NIFTY FUT trades below 5925 levels  



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As for trading today the levels are as follows:

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5890-5905  sustaining above which it will target 5920,5955
POWERTRADE TREND DECIDER OF THE DAY ------- 5965-70
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5825-30
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5805,5790,5755

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

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