NIFTY FUTURE – 28th Sep Recap
NIFTY FUT- we
had been mentioning in the past few sessions that immediate resistance was at
5711 and above that NIFTY FUT will turn BULLISH. What better than to also look
at our Cues for the day” That is look for
long above 5711 and short below 5640”. Look at the open low made exactly at
5711, and once markets moved above that level we knew that upside trade is on
the cards. Above that market found some resistance at 5740 range , just around
previous high and eventually crossed that to make a top around our next swing
resistance at 5760 levels.Today’s again our Levels worked pretty well with the market and again emphasized how the levels work as crucial inflection points in the markets. We had marked BEARS LAST STAND Point is 5711 and above market only traded for long side trades.
Today’s high is a crucial level to mark out for. NIFTY FUT tested and failed to cross the level of 5760.
What is next with NIFTY FUT? Is this an intermediate top? How do we know that? Read our post for the next session.
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NIFTY FUT traders were
advised to long above 5720 as per our blog and final profit was booked at again a range bound day and no trade was taken
today. We happily kept on booking profits in long positions in stock futures
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NIFTY
FUTURE – 1st Oct Trading Guide
NIFTY FUT gave a relatively weaker closing compared
to the early momentum in the first part of the day. The Daily candle formed had a longer body. Since NIFTY FUT closed
below 5735 immediate resistance again comes at that level of 5735-40 and if it
manages to trade above this levels should look to trade higher. On the
downside immediate support emerges at 5700 levels and a trade below that will
signify immediate bearish move. Downside targets will be 5670 and below that
crucial support comes at 5640 levels on the downside.Let s also do a swing analysis of NIFTY FUT and what are the swing projections. NIFTY FUT weekly candle gave a Doji close on a weekly basis with a newer high signifying indecision and lack of momentum at these levels. Hence on a swing basis this week’s high of near 5760 and low of 5640 will be crucial to watch out for. SO what are the projections beyond these levels? Upside swing projections are 5860 and 6000 levels and downside projections are at 5580 and 5500 levels.
Short term momentum indicators hold positive until NIFTY FUT holds above 5700 levels and mid term momentum indicators are now positive until NIFTY FUT holds above 5640 levels.
Cues to trade this Monday: Look to go long above 5740 again with tight stops or if NIFTY FUT fails to clear 5740 look to initiate short trades with stops above 5765
POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5760-65 sustaining above which it will target 57955830,5860
POWERTRADE TREND DECIDER OF THE DAY ------- 5735-40
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5695-5700
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5670,5645,5615
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