NIFTY FUTURE – Review of 28th Jan
NIFTY FUT –
Another range bound day in a typical range bound month, giving away
little for traders. But even then our levels worked beautifully giving the only
hope in a pretty range bound day. We had mentioned that the key levels to watch
out are 6095 on the upside and 6060 on the downside. Which we mentioned will
form as the immediate support. This is exactly what happened as markets found
support (Low made 6063 and managed to pull back and close within the range. The
fact that 6095 was not cleared also indicated that market may not have much
momentum on the upside.Other than that nothing much to write home about today. Markets stayed within the TREND DECIDER (AT 6060 ) and BEARS LAST STAND POINT (at 6095). Giving the indication that this will remain as a range bound session.
Markets gave an indecisive close.What is expected for the next few trading sessions?Read our analysis and review the charts for the next session.
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NIFTY FUT traders took a long trade today near 6080 anticipating
an upmove but that was not to be the case as we eventually closed out the positions
at an average of about 6075 gaining nothing from the trade. …....… Are you
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NIFTY
FUTURE – 28th Jan Trading Guide
NIFTY FUT – gave a near doji close in a range bound
trading session. This makes the high and low of the day very significant. Also
the fact that the High and Low are near critical swing levels makes it even
more important.Based on that 6095 will form as the immediate hurdle. Above that hurdle lies at 6120 the swing targets remain at 6270 zones. But immediate hurdle above that comes at 6170.
On the downside 6060 will act as the pivotal point and a close above or below it will decide the immediate move of the markets. A breach of 6060 and trading below it will again look for a test of 6025 levels. A breach of that will again see a test of 6000 support zones.
Swing indicator wise the short term indicators are now positive and will hold so until NIFTY FUT holds above 6040. mid term momentum indicators are also neutral at this trading level, they will swing to positive above 6105. This will be negative once NIFTY FUT trades and moves below 5995 levels.
As for trading today the levels are as follows:
POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6095-6100 sustaining above which it will target 6120,6135,6170
POWERTRADE TREND DECIDER OF THE DAY ------- 6060-55
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 6025-6030
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 6005,5990,5960
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