NIFTY FUTURE – Review of 21st Feb
NIFTY FUT – A power packed day
for our power traders and readers. After
a very long time did we see such a strong move day and what a beauty, how
nicely were levels followed from the first minute of the day.Yesterday we clearly mentioned that watch out to trade on either side of the trading range created on Wednesday. We also asked traders to take short positions on break of 5940. What was the morning high created? Well see the charts it was 5939.
Just check how powerful the movement was when markets opened and traded below the BULLS LAST STAND point ( 5935-40). This immediately confirmed a short position despite a gap down. Once that level was breached it went on to do all downside targets. We have been harping for the past few sessions that if the 5900-5925 zones are broken then the break down can be pretty sever this time around and that is what exactly happened today.
Hope the traders used this opportunity to trade and make some what for the sustained range bound moves that we had seen in the past few months. Will this open up the markets? We will have to watch in the coming sessions.
NIFTY FUT traded weak and closed below the crucial 5860 levels? what is the crucial level to watch out for just below this zone? Read our trading analysis and review for tomorrow
NIFTY FUT traders went short in the morning session below 5920
and booked gains all the way till 5870 levels.BANKNIFTY FUT traders had a blast
earning 180 points in a single trade.
The star performer was our advanced smartsignals which were
short since yesterday and now rocking at over 340 points gains per lot..… ….
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NIFTY
FUTURE – 21st Feb Trading Guide
NIFTY FUT – closed below the
crucial trading levels of 5860 and this doesn’t auger well at all. This level
will prove as the immediate TREND DECIDER of the day for the next session. What
is important now is that we also have a crucial level of 5830 zones on the downside.
Long term traders wil.recall that was the Breakout levels for a long time
before markets traded out of that range in November.If that level is breached on the downside we will surely look forward to the levels of 5810 and downside swing targets of 5730-50 zones. That zone will form as the next supply zone if at all it is reached.
Readers will also recall that before even the markets hit those levels we analyzed that NIFTY FUT had upside resistance at 6120 levels.
On the upside 5890 will form as the next hurdle and it will be important for markets to clear out that level to buck this down trend. But make no mistake the volumes and the candle pattern that we saw today implies that all pull backs will be heavily resisted.
Trading wise it will be important to first watch out that if NIFTY FUT is able to sustain below 5860 else we got to be a little cautious with shorts and secondly if markets are able to breach the 5830 levels. We need to keep tight stops for shorts near that zone. And may also look to add up on break of it.
Momentum indicator wise short term indicators moved into negative territory below 5920 ( This was another strong indication) .. Mid term 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 ----- 5890-5900 sustaining above which it will target 5925,5945
POWERTRADE TREND DECIDER OF THE DAY ------- 5855-60
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5835-30
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5814, 5790
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