Review of 3rd Dec and Update for 4th Dec 2012

NIFTY FUTURE – Review of 3^rd December

NIFTY FUT- For yesterday we wrote that Look for a long breakout above the highs of Friday and barring an open spike high markets to cleared that. We wrote that the BEARS LAST STAND point of the day is 5940 levels. This also worked as a double confirmation to ensure that the Longs are not holding up.
We also wrote that the TREND DECIDER of the day is 5890 levels and advised traders to look for pull back longs with stops below 5870 odd levels. This worked as a perfect pull back opportunity in this small restrictive trading session.

Not much to write home about other than this. For this range bound trading session. Now that NIFTY FUT has found some support around 5890 odd levels, how crucial will this level be in the coming session? Read our analysis for the next session.

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NIFTY FUTURE – 4^th December Trading Guide

NIFTY FUT had a range bound session for almost the past two trading sessions more so on Monday and understandably so. As the strong move that we witnessed before that had caused a significantly large divergence from the moving averages. The trend still looks strong as despite such strong move we are merely seeing a consolidation yet and not a correction, this indicates that more upside may be on the cards. But a confirmation will be only when the downside levels hold.
Another range bound session has confirmed that the break out levels remain as 5940 odd levels on the upside and now have a crucial support at 5890 levels and a break of that can still find support on the downside levels of 5860-70 levels.

No change in our momentum indicators. 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 -----5935-40   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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