NIFTY closed at a crucial Pivotal point. Are you ready to trade another low risk high potential trade opportunity?

NIFTY FUTURE- Review of 15th Mar

NIFTY FUT –   For Friday we wrote that
“Now combining these with the chart and the price point analysis . NIFTY FUT has immediate resistance at 5960 levels and trading above that can head to 5900-6000 resistance zones.

On the downside immediate support now comes at 5920 and trading below that can go onto test 5890-5900 levels where markets should find some support.”
Markets made a high in the morning just around that level at 5967 and failed to sustain near that zone. Once we saw a confirmed failure there it drifted downwards. Once 5920 was broken in the first session itself it went on to test the 5890 zones as well. Infact we saw a low marked below 5890 but a failure to close below that still maintains that zone as a bottom.
Now how could we have traded the day with the levels and analysis presented a day before:
Bears Last stand point was given at 5965, where exactly morning high was made, Trend decider was give at 5920 zones, hence there was a short opportunity below trend decider for safe traders and  risky traders could had gone short well in advance keeping morning highs as a SL and reversal above it.

Markets now failed to sustain the momentum, but managed a close near 5890, how to trade the coming sessions and week. Read our analysis for the next session

NIFTY FUTURE – 16^th  Mar  Trading Guide

NIFTY FUT closed just around 5900 levels with a low of 5880 in the previous session, also knowing the fact that 5890 is a crucial swing trend decider for us the immediate support levels are established here at 5880-90 zones.
Let us also quickly review the options data charts to see if it presents any different view?

NIFTY OPTION Data-15th March

The options data suggests that there is now a strong build up at 5700 levels and then followed by 5800 levels.

Readers will also recall that we had a very good pull back swing trade at 5800 region from where we witnessed a good rally. On the upside we have good CE accumulation at 6000 and 6100 levels

Based on these two data we may conclude that another round of shorting can emerge if NIFTY FUT breaks the 5880-5900 zones .

Below 5880-90 we have support emerging at 5855 , 5825 and a strong swing support at 5805 levels, where we have a price point and option data support. So that level can be used as a Pull back trading zone with stops and reversal below 5800.

On the upside we will again see NIFTY FUT behaving strongly if we are able to clear the 5925 levels , we may see NIFTY FUt go all the way upto 5950 odd zones again. Swing resistance remains at 5965-75 levels. If we are able to clear that on a sustained basis we may see a strong pull back  and a good short covering.

Trading strategy wise: We would want to look for short trades below 5890 zones and long above 5925 . also it will be prudent to try contrarian trades at extremes of 5830 on the downside and 5960 levels on the upside.

Swing indicator wise the short term momentum indicator are neutral now and negative below 5880 and positive above 5925. The mid term momentum indicators are positive now and will hold so until NIFTY FUT trades above 5860 levels.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5920-25  sustaining above which it will target 5945,5960,6000

POWERTRADE TREND DECIDER OF THE DAY ------- 5885-90

POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5855-60

Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5825,5805