Review of 31st Jan and Update for 1st Feb 2013

NIFTY FUTURE – Review of 31^st   Jan

NIFTY FUT –  How do we sum up today’s close. And the close for the series. Let us know what your one liner is for the day and the series. We would sum it up as an expected but not anticipated close. Markets pretty much closed in an equally dull fashion as it had traded now nearly for 1-2 months in a row.
For all those who love statistics look at the charts posted here. We have posted a weekly charts view of the NIFTY FUT. This month it has nearly traded within a 100 odd point range with a little leeway here and there.
Also check out the weekly ATR. It has hit an abysmal low of 136 odd values. For those who are interested in records this is the lowest ATR value since May 2006 for NIFTY FUT. Isn’t it a  surprising fact. Specially given that NIFTY FUT just traded in 3700-3800 range back then.

See the charts below to believe it:

NIFTY FUT WEEKLY CHARTS-JAN END 2013

AS for the daily trading levels  we had marked as 6075 as the BEARS LAST STAND point of the day.In the morning markets opened near that level and moved  downwards. It exactly again found some support near our TREND DECIDER of the day  and managed to hold on to that for good part of the day. This was again a good indicator that market is staying range bound as the prices just oscillated between the two trading levels.
We took a good pull back trade based on the levels.but eventually closed positions seeing lack of move in just marginal trades


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NIFTY FUT traders went long near 6045 and closed the positions near 6052 once it failed to clear the 6070 levels on the upside. A range  bound trading session with no side to pick from on either side. …....… 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 –1^st Feb  Trading Guide

NIFTY FUT –  closed the trading session near 6037 levels. This was both a close of the trading month and also a close of the trading series as well. Based on the current close and pattern what are the levels that emerge out?
Firstly have you checked the charts and also seen that unique level where the weekly ATR has drifted down to near 134 trading levels. This is the lowest ATR value since about May 2006… Also that holds even more important as that point of the trading range was just about 60% of the current range near 3700-3800 levels.
If we believe at a thumb role of reversion in the markets this will mean that more or less we should see a decisive move sooner than later now. Will Feb be the month? Well  we shouldn’t get into predicting it. Rather the advice is follow the trading levels and take trades as per your trading rules and systems.Because when the move will happen it will just kick of as a normal trading signal.
Also to avoid whipsaws and losing out on gains one can keep booking profits in quick interval until NIFTY FUT breaks out of the trading range.
As of now immediate support remains at 6025 range on the downside and below that the swing support continues to remain at 5990-6000 levels.
On the upside immediate hurdle comes at 6065-75 range and above that if we can clear that zone we should see a move till 6095. If markets manage to move above 6105 this time we should see a serious chance of taking  the swing hurdles of 6120 range.

Swing indicator wise the short term indicators are  neutral now and will be positive above 6075 and negative below 6025. 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 ----- 6065-75   sustaining above which it will target 6095,6115,6135
POWERTRADE TREND DECIDER OF THE DAY ------- 6025-30
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5990-6000
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5960,5940

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

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