NIFTY FUTURE – Review of 8th Feb
NIFTY FUT – Gave another rage trending day after a long
time for the intraday players . it will be interesting to review how it played
out because out of that will we get a potential trading strategy for the next
day.Lets take a step back and see first. For a long time we had mentioned and readers were fully aware as to how important the levels of 5960 are . Last time when these levels were tested in December we famously projected a pull back.
Also In Jan we through simple applications of technical analysis we were able to identify the 6120 top well in advance.
Now that 5960 was identified as a key zone and we had see a breach of that on temporary basis. The day before we clearly wrote that it is important to watch out for those levels. This is exactly what happened on Friday when markets failed to hold on to that zone and once it was convincingly broken we saw an immediate slide to 5930 zones.
Let us review how the levels worked- TREND DECIDER of the day was mentioned at 5965 levels. Below that the BULLS LAST STAND point was 5935 levels . check the market momentum of fall once that level was breached. It went to hit exactly above the swing target levels of 5890-5900. Market low made was just around 5900. This was also the identified target zone to look out for.
Now that we have breached 5930 levels as well and closed below it. What are the next levels to watch out for?
What are the critical support levels to watch out for below these? Read all these and the trading analysis for the next session.
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NIFTY FUT traders blasted away gains going short near 5955
levels and booking massive gains all the way till 5910 as per the identified
levels. BANKNIFTFTY fut traders too had a terrific session earning a net of 84 points per lot..…....… Are you looking for
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NIFTY
FUTURE – 11th Feb Trading
Guide
NIFTY FUT – closed weak and
tested the swing support zones of 5900. Now keeping that context in view there
are two very important levels to watch out for which will pretty much not only
decide the trend for the coming week but also may prove to be mid term trend
decider for the markets at large.NIFTY FUT on the downside has a key support at 5890-5900 zones. In case that level is breached we may be looking to target the strong swing supply zones of 5835-45 zones. Expect that level to be the key mid term trend decider of the market.
On the upside now 5930 will form as the immediate hurdle to watch out for and above that hurdle will come in at 5960-65 trading range. Until 5965 is convincingly cleared NIFTY FUT should resist any pull back and may be a shorting candidate on rise.
At the sametime we need to see how 5890 levels hold on, since this was an identified target range, hopefully traders have atleast booked part profits and possibly look to reenter shorts only on breach of 5890 levels.
This would pretty much be the trading strategy as well for the coming session.
Swing indicator wise the short term indicators are negative and will continue to hold so until NIFTY FUT trades below 5930. Mid term momentum indicators are negative now and will continue to hold so until NIFTY FUT trades below 5995 levels
As for trading today the levels are as follows and pretty much remains the same:
POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5960-65 sustaining above which it will target 5995,6025,6045
POWERTRADE TREND DECIDER OF THE DAY ------- 5930-35
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5890-5900
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5865,5830
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