Review of 22nd jan and Update for 23rd jan 2013

NIFTY FUTURE – Review of 22^nd   Jan

NIFTY FUT –  We had discussed for the past few sessions that the immediate swing levels to watch out for on the upside is 6120 levels. NIFTY FUT attempted that zone on the upside for the the past few sessions making a lower high just below that trading range. While it traded in  arrange bound manner for the past two session. Today we see a failed test to take out that level and eventually NIFTY FUT drifted down to take out the immediate near term swing support level of 6060 on the downside.
Today our BEARS LAST STAND ( Last resistance zone for the intraday trading range) point was marked at 6120. NIFTY FUT made a high below it at 6109 and drifted downwards. The downward mood was more or less confirmed once we had a move below 6090 levels that is the TREND DECIDER of the day.
In all fairness though it was fair to play for the upside as well based on the strength In the early morning session. But it was a day that belonged to the contrarian traders today.

NIFTY FUT closed at a crucial juncture. How will tomorrow’s move decide the immediate trend? What are the levels to look out for?  See our analysis for the next session

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NIFTY FUT traders  took at long trade around 6090 levels but closed it out at 6085 once we didn’t see a positive expected move. Shorts were possible but avoided for the intraday traders as it came late in the 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 – 23^rd  Jan  Trading Guide

NIFTY FUT closed at a crucial juncture near the 6060 levels this is the low that was getting respected for the past few trading sessions. Today a breach and a close near that showed that the swing top that we analyzed few session back holds good for now. Today’s was a complete engulfing daily candle. The only silver lining is that despite a test we barely managed to close exactly near the 6060 zones. This will be the immediate levels to watch out for in the next session.
In case markets manage to trade above 6070 levels expect it to try and test the 6095-6105 zone again. Hurdle for  a break out still remains at 6120 zones. On the downside a trade below 6060 will try and attempt 6030 zones.
Below that the crucial swing support and supply zones remain at 5990-6000 zones.
As for trading look for a short side trade on a break of 6060 and a pull back short trade in rise with probable stops and reversal above 6105 range.
We would expect the market to show a  strong move of 2-3% in case it manages to break out this trading range of 6000 on the downside and 6120 on the upside.
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As for trading today the levels are as follows:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6100-6105    sustaining above which it will target 6120,6135
POWERTRADE TREND DECIDER OF THE DAY ------- 6055-60
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 6025-30
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 6005, 5990,5960

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

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