NIFTY FUTURE – Review of 20th December
NIFTY FUT- opened gap up exactly again below our
swing levels of 5960 zone. Failing to sustain eventually moved downwards. Just
review even on a relatively range bound session and despite volatile moves how
beautifully the levels worked. We mentioned that the BEARS LAST STAND point of
the day is 5960 and markets just made a top below that in the opening session.
Once that level was failed to clear out markets traded lower and once 5920 was
breached it made an exact low above our BULLS LAST STAND point of the day.
Where again it found support and yet again managed to still close near 5920
zones.We had been advocating traders either to stay out or look for pull back trades in this trading range and only a breakout above this trading range. Again today was a day where this worked perfectly.
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NIFTY FUT traders went short with pre fed trades below 5925 and
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NIFTY
FUTURE – 21st December
Trading Guide
NIFTY FUT still is trading in the broader trading
range that we have repeatedly mentioned and discussed. The fact that our levels
are holding all the way has signified how important these levels are. If the
lack of movement is frustrating you again take trades as per levels and look
for pull back trades within this zone and only a breakout trade outside this
trading range.NIFTY FUT managed to close above 5920 again and this will again
prove as the immediate trend decider above that the hurdle remains at 5960 zone
and a clear of that should go on to test 5990 on the upside.On the downside NIFTY has immediate support at 5890 odd range and a breach of that will go onto test the swing support zones of 5865 and if that is breached, this time we may look for a good downside move. The broader range remains the same as market is still just trading within 150 odd points for this entire month.
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The short term are now neutral and will hold so until either NIFTY FUT moves below 5890 or above 5960 now.. MIDTERM momentum indicators are now negative and will do so until NIFTY FUT holds below 5960 levels.
As for trading today the levels are as follows:
POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5950-55 sustaining above which it will target 5990,6025,6048
POWERTRADE TREND DECIDER OF THE DAY ------- 5915-20
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5890-95
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5870, 5830,5810
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