Review of 14th jan and Update for 15th jan 2013

NIFTY FUTURE – Review of 14^th   Jan

NIFTY FUT – What a perfect day was it and how nicely did our discussion and analysis work out. We wrote clearly for Monday that while market has broken down and given a close below the crucial trading levels, watch out for our for a “false breakdown”.
We advised traders to look for a confirmation for markets to trade below the swing trading levels of 5990. Today  markets opened around the same zone and if you look at the hourly candles the first close happened just exactly above 5990, NIFTY FUT closed at 5991 levels. this was a warning sign for short traders, at the same time there was no indication for longs to be take n too.
But once NIFTY FUT managed to cross above the BEARS LAST STAND point of the day see the market reaction how markets pulled back and traded strong. This again signifies the importance of the trading levels.
We had clearly highlighted that the zone of 6020 is the TREND DECIDER of the day, once market took out that  level the lower zones of 5995 now acted as a support or stoploss for long trades. Check the charts, after 6025 was crossed no low was made below 5990 levels and all upside targets were done accordingly.
Hope all readers used the trading levels well and had a good trading session.
Now that NIFTY FUT gave it first close above 6055 levels, what’s in store for the next trading session. Read our analysis for 15^th Jan.

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NIFTY FUTURE – 15th  Jan  Trading Guide

NIFTY FUT finally broke out of its trading range that it has been stuck in for a long time and broke out strongly on the upside. Yesterday despite a breakdown our momentum indicators were holding up and that was a warning sign that the break down still needs to be confirmed and eventually markets pulled back exactly from there.
Now NIFTY FUT has immediate support at 6025-30 levels and if it manages to hold above it , NIFTY FUT will attempt to take out the next swing targets of 6098 levels, Above that NIFTY FUT will face resistance at 6140 and above that the crucial  resistance now emerges at 6140 and 6175 levels.
On the downside we have to watch out first for it to sustain above the 6045 levels. In case it does the momentum will be confirmed if not we either wait for sharp dips to 6025 levels or wait for a clear break out.
On the downside if NIFTY FUT breaches 6025 it will again go on to attempt 5995-6000 support levels and this should provide a buffer an supply zone for now.


The short term momentum are now trading positive again and will continue to do so until NIFTY FUT manages to hold above 6025 levels. The mid term momentum indicators are now positive as well and will hold so until NIFTY FUT holds above 5975 levels.
As for trading today the levels are as follows:


POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6095-6100    sustaining above which it will target 6135,6175
POWERTRADE TREND DECIDER OF THE DAY ------- 6045-50
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 6020-25
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 6005, 5995,5975

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

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