Review of 3rd Jan and update for 4th Jan 2013

NIFTY FUTURE – Review of 3rd  Jan 

NIFTY FUT this one got to be a quick trading review. AS if you leave out the opening gap up NIFTY FUT pretty much traded within a 20 odd point range for the entire day, typical of what we saw for most part of December as well.
Yesterday we had marked out as 6050-55 as the BEARS LAST STAND point of the day and how importantly that level got respected and meant as the trading level to watch out for the day as markets just failed to take it out all through the day. Nevertheless the BEARS are still inactive at this level.  That is what we saw that there was no significant downside correction or profit booking yet.
How would we base our analysis that this move may have still some steam left? What are the trading levels to watch out for? Read our review for the next session.

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NIFTY FUT  traders  stayed neutral today , but BANKNIFTY FUT traders   went long but closed positions in just minor gains after no move for sustained period... … 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 – 4^th  Jan  Trading Guide

NIFTY FUT  displayed another range bound move giving away little for intra day traders. Why would we think there is some steam still left in NIFTY FUT,  well for two reasons firstly and most importantly the trading levels are still intact and NIFTY FUT resisted any downside move we didn’t even go on to test the next levels of 5990 zones.
Another thing to watch out for is how is the markets reacting at these levels. well review the daily charts formed on 6^th decemeber and subsequently on 7^th December. After testing new highs then markets immediately corrected  the next day. review the reaction till date in the recent up  move , markets have so far successfully sustained at these levels.
NIFTY FUT has immediate resistance at 6050 and if that is cleared NIFTY FUT will head towards the upside zone of 6098 levels. Above that mid term swing targets are now at 6170 levels.  
Also just for  the long term trading levels we have a new swing target at  6340 zones on the upside.
Downside support remains at 5980 levels  and below that now swing support emerges at 5965 levels which was the previous break out zone.

 The short term momentum indicator remains strong and positive and will continue to hold so until NIFTY FUT trades above 5980 levels.  The  mid term momentum indicators  remain positive until NIFTY FUT holds above  5940 levels.
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As for trading today the levels are as follows:


POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6050-55   sustaining above which it will target 6090,6120
POWERTRADE TREND DECIDER OF THE DAY ------- 5990-6000
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5960-65
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5940, 5910

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

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