Review of 19th Feb and Update for 20th Feb 2013

NIFTY FUTURE – Review of 19^th Feb

NIFTY FUT – A perfect day trading with the levels again, more importantly markets moved and showed some consistency rather than hovering around in a range bound manner.
Few sessions back when analysts where yelling shorts and correction all over the internet we had clearly discussed that 5860 and below that 5830 are strong supply and support zones and irrespective of what people say we should look for starting to invest in that zone. Today we have witnessed a near 100 points pull back in the index futures from those levels and hope traders had used that and did had good gains.
For daily trading levels we had mentioned that 5890 will hold the key, markets marked an intraday low exactly there and pulled back smartly from those levels . Also the BEARS LAST STAND point ( break out level) was mentioned as 5925 levels and long traders had an ample chance to go long at those levels and book good gains.

Let us review how it worked on charts as per the trading plan that we shared few sessions back.

NIFTY FUT -TRADING STRATEGY ANALYSIS

Once it was confirmed that the TREND DECIDER is respected and markets pulled back from that level. There was a low risk trade entry from there and gave an opportunity for contrarian traders.
As per the charts we again had an opportunity to go long above 5925 the BEAR LAST stand point giving away good gains there too.

NIFTY FUT exactly made a top near 5960 levels and closed strong , so what is up for NIFTY FUT in the next trading session. Have we crossed the crucial hurdle yet? Let us review all that in our analysis for the next session

NIFTY FUT traders today had a blast going long near 5905 and booking gains all the way till the close of the day making it a big trading day… …. 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 – 20^th Feb  Trading Guide

NIFTY FUT – managed a strong close near 5960 zones and also managed to hold onto the 5890 levels for two consecutive trading session. What is more important to look out for in the coming session is to see if NFTY FUT can manage to move above and trade above the levels of 5960 for the next session.
This will form as the immediate hurdle in the next session and trading above that level can ensure NIFTY FUT goes on to test 5985 levels and above.
On the downside 5925 levels will prove as the immediate support levels and if it manages to hold that level it will be prudent to look for pull back trades below that NIFTY FUT may trade weak and again go on to test the  5900 levels.
In case 5890 cracks this time it will confirm a false top and a break down can be much more severe. But at this time it looks like we may be set to test the zone of 5985-6000. That will form as the next acid test for BULLS above 5960 levels.
Momentum indicator wise now the short term momentum indicators are trading positive and will continue to hold so until NIFTY FUT trades above 5920. Mid term momentum indicators are also trading positive now and will continue to hold so above 5890 zones.

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Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5925-30    sustaining above which it will target 5965,5995
POWERTRADE TREND DECIDER OF THE DAY ------- 5890-95
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5860-65
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5835,5810

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

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