Review of 30th Nov and Update for 3rd Dec 2012

NIFTY FUTURE – Review of 30^th November

NIFTY FUT-  The other day we marked that the first swing target for the long side was near 5840 levels and above that it is headed straight for 5890 levels and higher. On Friday NIFTY FUT gapped up just above the resistance leave near 5855-60 levels and once those levels were respected on the downside, the lower side range of 5840 was acting as an immediate support.
Also mark the follow up momentum once the level of 5890 was crossed on the upside. This was also marked as the next swing projection plus upside targets above our BEARS LAST Stand point of the day. Two points to take home from Friday’s Trade. 1. One of our friends asked a very pertinent question as to how do we treat the levels just after the expiry day as many a times there are good difference in the future levels of the current and the next month. On our opinion the best and the simplest way to do so is to just treat the next month as the continuation of the current month. That is treat it as FUT1 ( or current future). Let the premium or discount just play as per levels. Most of the times it does work out successfully just like Friday.
Second Important thing is mark our trading levels ( these are not mere calculated support and resistances but clear points where market momentum may change) For example on Friday our BEARS LAST stand point of the day was just 15 points above the Thursday close and we say a clear bullish behavior once market was trading above that level.


Markets managed to stay very positive and closed  above our second target zone. Now what are the next projections for the market? Read our trading guide for the next session.

Readers may also mark our blog : powertrades.blogspot.

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NIFTY FUT  intra day went long above 5890 in the second pull back and booked quick gains near 5920, making it almost 230 points of swing gains and 140+ points of intra gains in few sessions. BANKNIFTY traders too went long above 12100 and managed to earn near 100 points in another highly successful trading session for us.Leave your trading worries to us…Looking for decisive trade entries?.. Are you still worried about your trade entries? Are you missing on these turning points entries? How about looking at our points guaranteed services. …... Where to take the next trade? Did you catch the move in the right time?.... Are you still guessing where to trade? Subscribe to our premium calls and leave your trade entry and exit worries to us. 

NIFTY FUTURE – 3^rd December Trading Guide

NIFTY FUT close strong   and more importantly above the swing trading levels of 5890 which is very critical now.   There are two contrarian things to watch out now.  One is that we had a very strong rally with very good volumes in the past 3 trading sessions and a true break out as well so to be very practical there can be some consolidation or minor correction for the market in the coming sessions. The second one is that markets are trading pretty strong and we don’t see any signs of exhaustion as of yet. So with these two in mind how do we trade the coming sessions.
The best way in this scenario would be to look for long positions above 5930 levels for our eventual targets of 5990 levels on the upside or look for pull back longs with stops near 5860-70 zones.  Alternatively look for a short trade in case NIFTY FUT fails to clear 5930 on the upside or on break of 5860 on downside.
Immediate resistance comes at  5930 and above that at 5990. On the downside support now emerges at 5890 and below that at 5865 levels.


Momentum wise now the short term swing indicators are now trading positive and will do so until NIFTY FUT holds above 5860  levels. The midterm momentum indicator are now also trading positive and will continue to hold so until NIFITY FUT holds above 5730 levels.
As for trading today the levels are as follows:

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5940-45    sustaining above which it will target 5960,5990,6025
POWERTRADE TREND DECIDER OF THE DAY ------- 5890-95
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5860-65
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5835,5810

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

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