Review of 29th jan and Update for 30th jan 2013

NIFTY FUTURE – Review of 29^th Jan

NIFTY FUT – Well what a day of volatile move and our readers and analysts have come out winners hands down.
We have been writing for long even before it was tested that 6120 is the levels to watch out for on the upside and voila whats the high made today ( 6120 exactly). We wrote a few days back that lot of levels combine to bring that out as the projected range to watch out for.
How About looking at a before and after chart.
Before is what was published early this week with the trading zone mentioned and after is the charts update today.
For Before refer to our charts posted for Monday. After posted here

NIFTY FUT 29TH JAN 2013

NIFTY FUT for daily trading wise we had mentioned that 6060 will be the key on the downside and 6095 on the upside. Once 6060 was not breached in the morning session and we were able to take out 6095 it headed straight for the upper range of 6120.
NIFTY FUT failed to clear that zone of 6120 and moreover in the closing sessions breached 6060 and closed below it? Does that ring the warning bells. What are the levels to confirm that? Read the detailed review of the charts and our trading levels for the next session

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NIFTY FUT traders did take the long trade above 6100 as advised in the blog but just booked part of it in time, the rest half got stopped out and just made a breakeven trade.  But We had a cracker of a trade in BANKNIFTY FUT though booking an average of 102 points in a trade. …....… 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 –30^th  Jan  Trading Guide

NIFTY FUT – Let us first quickly do a chart review that we have posted above in the blog.
A look at the chart and clearly emerges out two clear picture that since the start of this month we have been hovering in the near 100 point range barring a few break here and there. We saw one downside breach to test  our swing second support zones of 5960 and we saw an upside breach to test our swing hurdle zone of 6120. Other than that we have oscillated in this trading range more or less.
We also see a rising trend line formation making higher lows that is holding up still despite the failed attempts to take out the highs. I Think that will hold the key in the coming sessions. If the levels are breached we may see a good slide and a mid term correction.
On immediate basis again the range of 6065-75 will prove as the hurdle and swing hurdle will continue to remain above that range at 6095. Swing resistance continues to remain at 6120.
On the downside the Trend line support is at 6025 range and a breach of that may confirm the downtrend. Aggressive traders may look to short below it and safe traders would prefer to wait for a swing break down of 6000 zones.


Swing indicator wise the short term indicators are  now back to being short and will continue to hold so until NIFTY FUT trades below 6095. mid term momentum indicators are also neutral at this trading level, they will swing to positive above 6120. This will be negative once NIFTY FUT trades and moves below 5995 levels.

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 6120,6135,6170
POWERTRADE TREND DECIDER OF THE DAY ------- 6065-75
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 ---- 6005,5990,5960

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

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