Review of 6th Feb and Update for 7th Feb 2013

                                       

NIFTY FUTURE – Review of 6^th Feb

NIFTY FUT –  Another range bound follow up session where NIFTY FUT pretty much managed to trade within the range yesterday.
We had advised traders to only look for long trades if NIFTY FUT sustains above 6005 levels or clearly look out for short trades on rise. Lets review our trading strategy for Today: “Look for short trades below 5965 or on pull back to 5990 levels.”  
 In the morning session markets in a mildly positive mood and then topped there exactly around that level. Our BULLS LAST STAND point was BEARS LAST STAND POINT OF THE DAY ----- 6000-6005   .
From there once that level was failed to clear it drifted downwards and exactly bottomed out above our TREND DECIDER OF THE DAY ------- 5960-65 ( Low made 5966.2) giving the only potential trading opportunity in range bound session.
The idea is since levels are based on technical analysis and are pure trading levels. It helps once to plan his or her trade well in advance without worrying how global markets or anything else will span out to. If it meets the trading levels rules and analysis we take the trades. This way one is free of any bias or emotion as well which is a key success aspect for any intraday trader.  You may choose to follow any level you want but plan your trading strategy for next day in advance with a clear mind and trade in during the trading hours based on understanding and rules. Without a bias.



NIFTY FUT  gave a weak close just hitting the swing support zones of near 5965 levels. how will it play in the coming sessions? What are the technical profit booking zones to look out for if that level is breached? Read about all that and the trading strategy for tomorrow in our analysis.


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NIFTY FUT traders went  just as advised in the  blog near 5990 and booked profits near 5970 levels giving a neat 20 points gain. BANKNIFTY FUT traders too had a nice trade going short near 10530 levels and booking a neat 55 points gain. We have kicked of FEB with a bang.. Are you still waiting to catch the bus? …....… 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 – 7^th Feb  Trading Guide

NIFTY FUT – closed the trading session on a lower note almost near the swing support levels of 5960. The fact that we made a similar bottom and tops in the last two trading session in way makes the decision making even easier.
The trading range on either side of these two daily candles will pretty much act as a break out or a break down range to look out for in the coming session.

On the downside 5960 will form as the crucial and immediate support to look out for and a  breach of that will possibly test the lower support zones of 5925-40 zones. Below that the next swing support comes at 5890 levels.
On the upside immediate resistance now comes at 6000-6005 levels and a breach above that can go on to test the levels of 6025. Remember 6025 proved as a good support buffer until NIFTY FUT was trading above that level. This will now act as the resistance zones until the prices trades below it.

Now how to trade the coming session. Look for short trades below 5965 or a break out trade above 6000-6005 levels. It is  now advisable to avoid a pull back trade any further within this range. Although given how are markets have been trading for past month or so don’t be surprised if it spends some more time in this range J


Swing indicator wise the short term indicators are negative and will continue to hold so until NIFTY FUT trades below 6005. Mid  term momentum indicators are negative now and will continue to hold so until NIFTY FUT trades below 6025 levels
As for trading today the levels are as follows:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5995-6000   sustaining above which it will target 6025,6045,6065
POWERTRADE TREND DECIDER OF THE DAY ------- 5960-65
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5930-35
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5910,5890

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

We at Powertrade believe A Successful Trade is a result of the finest blending of absolute money management skills along with time tested analytical skills refined with conviction. So if you need expert hand holding advisory services to make money trading these levels Register @www.powertrade.co.in and subscribe to our Premium Packages which are loaded with Points Commitment Challenge.