NIFTY FUTURE- Review of 11th Mar
NIFTY FUT
– Made a intraday to near our projected levels
of 6000. We had advised traders that
until that level is cleared we may see a temporary pause in the markets. This
is exactly what happened as well. But since the overall swing is positive at
the same time all pullbacks will be bought into.We advised traders to look for long side trades in all dips to 5940 levels. In the morning session markets dipped just made a low near 5950 and managed to pull back to test the BEARS LAST stand point of the day exactly.
This being a swing hurdle markets found some resistance there and failed to clear it.
Once we saw an lower top formation on intraday charts it proved as a confirmation that level may not be just taken out yet. Eventually NIFTY FUT managed to close at the lower levels of 5950 zones.
Based on levels today while it was range bound there were two trading opportunities one going long in dip. We were hoping for the 5945 levels and we missed that long though. Or a short on rise. Once NIFTY FUT failed to clear 5995 a short was initiated below 5975 for some intraday gains.
For swing traders hopefully our advise to lock in gains and wait for a clear of 6000 was a fair advise.
Now that we had the first correction day in the recent upswing. What are the levels to watch out for in the coming sessions. Read our analysis or the next trading session.
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NIFTY FUT traders went
long above 5915 and gains massive gains all the way till 5970 just as per our
blog. Banknifty fut traders too has a blast going long in the opening session
above 12104 and booking gains all the way till 12240 odd levels. Are you
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NIFTY
FUTURE – 11th Mar Trading Guide
NIFTY Fut
gave a lacklusture day without giving away much on either side, our trading
range identified was 5940 on the downside and 6000 levels on the upside. Markets
traded within that zone and faield to clear on either side. Since we closed a bit on the lower side near 5950 levels, now 5940 short term swing supports will be keenly watched in the coming sessions. A breach of that can take NIFTY FUt down to 5900 levels.
Traders will recall 5890-5900 was the previous swing break out zone and that is where we may see some short term support emerging.
In between this trading range of 5940-6000 expect markets to trade lack lusture without a definite direction. The bias will be negative below 5975 and mildly positive above that. A swing break out will only be possible if we are able to clear out the 6000 zones.
Swing wise again we will re iterate a clear of 6000 zones can see a strong chance to take out 6120 on the upside.
Swing indicator wise the short term momentum indicator remains positive above 5940 levels. . The mid term momentum indicators are now positive as well and will continue to hold so until NIFTY FUT trades above 5860 zones.
Trading levels for the day:
POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5990-5995 sustaining above which it will target 6025,6040,6090
POWERTRADE TREND DECIDER OF THE DAY ------- 5970-75
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5935-40
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5910,5880
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