Review of 20th Feb and Update for 21st Feb 2013

NIFTY FUTURE – Review of 20^th Feb

NIFTY FUT – A range bound day where markets traded in about 30 odd points range giving away little on either side. This has been a typical characteristic of the market in the past 3 months where markets have been in a rut trading in small range and not been able to give a decisive move on either side.
Yesterday we mentioned that until NIFTY FUT holds above 5925 it will trade with a positive bias, that is what happened today, where markets managed to hold up despite trading at higher levels. We also mentioned that on the upside NIFTY FUT will face resistance near 5985, but sadly it even failed to scale to that level.

One of the issues with market has been that we have traded in this 200 odd point zone for quite some time now and hence at every 30 odd points we have levels that we need to watch out for. This has been caused a concern at times where none of the moves have held on a sustained basis, 19^th was a rare exception though.

Now that we have traded in a small zone for the trading session and the fact that the markets just managed to close a shade above 5960 zones, what is up next?  Read our trading analysis for the next session.

NIFTY FUT traders went long in dips towards 5955 and booked profits in time at 5970 levels. Giving a neat small trade in  range bound session. … …. 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 – 21^st  Feb  Trading Guide

NIFTY FUT – just managed a close above the crucial 5960 zones. But is that good enough? Given the fact that we failed to take out 5985 zones , makes it a little tough, but the fact that we traded in a small 25 odd points today will make the trading decision easier . We have to watch out the daily candle today to see where it may be headed next.
On the downside if NIFTY FUT manages to breach 5940 levels it will again move into a weak territory and can start another downward trend. Below that trade for NIFTY FUT to test the 5910 zones. A confirmed swing reversal will only happen if 5890 is breached.
On the upside if NIFTY FUT managed to trade above 5985 it will test the swing hurdle zones of 6010.  If that is cleared we can see a strong short covering and move all the way till 6050-60  zones.
Crux of the matter watch out for today’s daily candle and initiate trade on the break of the trading range on either side. Not much point looking to invent trades in between this range.

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 ----- 5980-85     sustaining above which it will target 6010,6045
POWERTRADE TREND DECIDER OF THE DAY ------- 5955-60
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5935-40
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5915,5890,5865

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

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