Happy New Year 2013 and update for 3rd Jan

NIFTY FUTURE – Review of previous sessions

Firstly wish you all a very happy and prosperous new year ahead.
NIFTY FUT- Markets gave a new year rally to finally take out the 5960 levels. and close well above 6000 zone. So how did our trading levels work in the past few sessions.
Read our forecast for the  24^th : http://powertrades.blogspot.com.au/2012/12/review-of-21st-dec-and-update-for-24th.html
We mentioned that NIFTY FUT has supply zone at 5830 and that is where exactly NIFTY FUT bounced  off from exactly that zone for about nearly 200 points.  NIFTY FUT high made at 6049.90 today, but did our readers have any clue about it earlier? Well lets just see . Check the trading guide for http://powertrades.blogspot.com.au/2012/12/review-of-20th-dec-and-update-for-21st.html or before it.. All of them had the final target marked out as 6048. After BEARS LAST Stand point.
In fact when markets broke out early December we had mentioned this level clearly way back.  http://powertrades.blogspot.com.au/2012/12/review-of-12th-dec-and-update-for-13th.html As long as 13 th December we wrote this as the final target zones for our swing levels.
Again a huge success in projecting the targets right for our readers. Was it mere co incidence or thorough calculated technical analysis.


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NIFTY FUT  traders stayed neutral today, but BANKNIFTY FUT traders  managed a neat 40 points in a range bound session.. … Are you looking for complete guided trading without any hassle?.. 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 Jan  Trading Guide

NIFTY FUT displayed a typical range bound session after a strong move for the past few sessions.     The good part is NIFTY FUT managed a higher high closing and exactly did our swing targets, the fact that it managed to close strong indicates that there might be still some upside left for the current trend .
NIFTY FUT as we have been mentioning in the closing stages of December that the trend on the upside remains intact. The projections have worked out well.
So what are the next trading levels on the upside. NIFTY FUT has immediate resistance on the high created today that is at 6050 and if that is cleared NIFTY FUT will head towards the upside zone of 6098 levels.
Above that mid term swing targets are now at 6170 levels.  also just for  the long term trading levels we have a new swing target at  6340 zones on the upside.
But before that what are the downside levels to watch out for?  NIFTY Fut has now downside support at 5980 levels  and below that now swing support emerges at 5965 levels which was the previous break out zone.

 The short term momentum indicator remains strong and positive and will continue to hold so until NIFTY FUT trades above 5980 levels.  The  mid term momentum indicators  remain positive until NIFTY FUT holds above  5940 levels.
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As for trading today the levels are as follows:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6050-55   sustaining above which it will target 6090,6120
POWERTRADE TREND DECIDER OF THE DAY ------- 5990-6000
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5960-65
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5940, 5910

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

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