Review of 25th Feb and Update for 26th Feb 2013

NIFTY FUTURE – Review of 25^th  Feb

NIFTY FUT –  had a listless and direction less day where it failed to clear either side of the trading range and give a decisive move. We had discussed how important are 5890 levels on the upside and 5830 levels on the downside. Today barring a small breach on the downside we didn’t see any break of the trading level. Even during the breach NIFTY Fut failed to close below this trading range. NIFTY FUT gave multiple small trading opportunities within this trading range where we saw couple of pull backs from the trading levels that was also our BULLS LAST STAND point to TREND DECIDER of the day.
Now that we had another in decisive close again near the crucial trading levels of 5860, what are the next levels to watch out for?  Read our analysis for the next trading session in our analysis for tomorrow.

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NIFTY FUTURE – 26^th  Feb  Trading Guide

NIFTY FUT – had yet another close near the 5860 levels , well this is almost the third consecutive close in the same trading range despite trying to break out of the market range.
We had shared the Elliot wave analysis charts yesterday for the traders to reference against. We will post new charts once the market range changes. Till then use that as the reference.
As for immediate trading levels NIFTY FUT will face immediate hurdle at 5880-85 levels  and a clear of that this time can see NIFTY FUT move to 5900-5910 zones. Trading below that zone NIFTY FUT will trade weak and will try to test the lower support zones.

On the downside NIFTY FUT will face immediate support at 5830 levels and a breach of that can see a slide to 5810 and lower levels. Below that  we can see a slide till 5780 levels.
The final swing support and target levels for this down move emerge out at 5730 zones. We would want to trade for that target level once a confirmed break of 5830 happens. Until then there is every chance of market pulling back. At the same time expect every pull back to be resisted until 5925 levels are cleared.
So how to trade in the current context? Look for low risk pull back trades with stops of close below 5830 zones. And trade short below it. At the same time look for pull back shorts at appropriate levels with 5900 levels as stops.
In the trading range in between since the risk reward may not be favorable it is advisable to stay neutral.


Momentum indicator wise short term indicators moved into negative territory and remain so until NIFTY FUT trades below 5890. Midterm momentum indicators are now trading negative as well and will continue to hold so until NIFTY FUT trades below 5925 now.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5895-6000 sustaining above which it will target 5925,5945
POWERTRADE TREND DECIDER OF THE DAY ------- 5880-85
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5825-30
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5814, 5790

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

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