Review of 12th Feb and Update for 13th Feb 2013

NIFTY FUTURE – Review of 12^th Feb

NIFTY FUT – Yesterday when we discussed the trading analysis, one thing was clearly analyzed and advised.
We had asked traders to lock in profits for the swing trades ad look for a break of 5890 zones.  Our BULLS LAST STAND point was also marked at 5900 levels. markets tested these zones but managed to hold on to those levels and when that was respected we saw a good pull back to test the upside zones of 5935 levels giving the only trading opportunity in the day.
NIFTY FUT now has witnessed three lows near identical levels. We had been mentioning in the past few sessions that 5900 levels is the swing levels that are important to the market.
Now that markets have managed to hold onto the 5900 levels and have also taken out the immediate resistance levels of 5930 and managed to close above it , it will be important on how it plays out the next few sesisons.
Is the bottom confirmed yet? What are the levels to look out for to ensure that ? Read our detailed trading analysis for the next trading day.


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NIFTY FUT traders went  long near the 5914 zones and booked good gains all the way till close making it another successful day in a row even in range bound trading conditions. …. 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 – 13^th Feb  Trading Guide

NIFTY FUT – managed to respect the 5900 levels and pulled back and closed above the immediate hurdle zones of 5930. Let us review the past three days daily candles.
Two quick analysis emerge out in a glance. One  is we witnessed three bottoms in the same trading range now for the past three trading sessions. Secondly today’s candle managed to engulf yesterday’s candle and close above the previous day high, giving a strong short term reversal pattern. Also the fact that we witnessed a higher volume as compared to the previous trading sessions acts as a confirmation.

But now all this also comes with a warning. We are yet to take out the swing hurdle zones of 5965 levels. This will act as the true confirmation of an intermediate trend reversal only
Let us also review the charts as posted below.  As is evident from the chart that NIFTY FUT now has also closed just above the descending trend line.

NIFTY FUT CHARTS 12TH FEB

The Fibonacci extensions also give a good view of where the next hurdles are likely to emerge on a swing basis.
If we do an Elliot wave analysis this will also probably be the wave B after the 5^th wave.
On a swing basis a wave B reversal will only be confirmed above 6010 levels.

As for day trading levels. Immediate hurdle comes at 5960-65 zones and above that now NIFTY FUT can make a dash to 5990-6000 zones. On the downside immediate support emerges at 5910 zones. And a breach of that will again call for a test of the triple day supports.

 
Swing indicator wise the short term are now positive again and will hold true until NIFTY FUT trades above 5900 levels. Mid  term momentum indicators are negative now and will continue to hold so until NIFTY FUT trades below 5965  levels
As for trading today the levels are as follows and pretty much remains the same:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5960-65   sustaining above which it will target 5995,6025,6045
POWERTRADE TREND DECIDER OF THE DAY ------- 5920-25
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5900-5905
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5865,5830

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

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