Review of 17th jan and Update for 18th jan 2013

NIFTY FUTURE – Review of 16^th   Jan

NIFTY FUT –  Just yesterday we discussed that while the break down looked severe we expected some supply to come in at 5990-600 zones. We also wrote that the shorts will be reinitiated only on movement below that zone.
Excerpts from our post yesterday – “On the downside NIFTY FUT has a support and buffer zone at 5995-6005 levels  and this will be keenly watched out. We would prefer and advice to initiate fresh shorts only if that level is breached”
This exactly proved correct when in the opening sessions NIFTY FUT managed to find some support there and and hold on to those trading levels.  This was also identified as our BULLS LAST STAND point and this is exactly where BULLS managed to hold back.  We also mentioned that above that hurdle will come at 6025 zones and once that was crossed NIFTY FUT made a dash towards the upside resistance zones of 6055 levels and managed to cross that as well with the momentum but eventually again just managed to close with the range.
Hope with the trading advice no one went eagerly short today and some smart traders also capitalized on pull back longs.
Now with this close NIFTY FUT is again back to the trading range where is struggled to break out of for most part of early Jan. How will it play now.  How to trade NIFTY FUT now ? Find this and a lot more on trading levels in the psot for next session.



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NIFTY FUT traders stayed neutral today. While there was an opportunity for pull back longs, having made good gains in past few sessions we probably played a little safe in hind sight. ..… 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 – 17th  Jan  Trading Guide

NIFTY FUT managed to hold on and check the slide that we saw yesterday. Good part was we were aware of this supply zone and hence had no shorts open until the levels of 5990 was breached. Technical wise the last 3 days have proved to be a daunting task where NIFTY FUT managed to completely reverse the momentum that was witnessed on the previous day.  A new high was made on 15^th which was followed by a strong downmove  on 16^th and a subsequent pull back on 17^th. These are the times when the trading levels help immensely to determine the direction of the move.
The bears will still hold some hope that the highs have not been  conquered, so keeping that in mind we would expect  to be cautious for creating any break out longs until the hurdle zone of 6095-6105 are conquered.  But the BULLS will be happy about one fact that the upmove today had more volume than the down move yesterday.
On the downside the levels of 5990-6005 will now form as the swing support and will be keenly watched out again. Immediate support may be expected to be at 6020 zones and if until that is breached expect the market to show some positive mood. On the upside if it  trades above 6055 too it will try to conquer the previous highs.
On the downside a breach of 6020 zones this time will again possibly make the market test the support zones of previous day. A breach of 5990 this time will probably signal a definite correction and may lead to test of lower swing levels of 5970 and 5940 zones.

To summarize this if markets holds well above the 6050 mark look for  long trades with 6020 zones stops and if market trades weak look for short trades with stops above 6055. Use the levels below for more decisive trades

As for trading today the levels are as follows:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6095-6105   sustaining above which it will target 6135,6170
POWERTRADE TREND DECIDER OF THE DAY ------- 6022-27
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5995-6000
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5975,5940

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

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