NIFTY FUT Outlook for the rest of the week and High potential trading opportunities

NIFTY FUTURE – 16^th  April  Trading Guide

NIFTY FUT For the past few sessions we mentioned that 5500-30 is a strong supply and buffer zone. NIFTY FUT in the morning session opened just there and managed to bounce back all the way upto 5600 levels giving  a good low risk pull back trade.

The fact that it failed to clear 5600 and again ended up closing near 5560, shows that the band of 5500-5600 is a tough nut to crack for both the bulls and bears.

Here comes our next trading opportunity , this range will give a good pull back trading opportunity for the traders with stops and reversal 5 odd points outside the range. 5560 is again a no mans land from  an intra day perspective and this will also act as a tend decider.

From and intraday point of view if markets holds above 5550-60 trading zone deem it to be positive to test upside levels of 5590-5600 and similarly on the downside 5530 odd can be tested.

Swing wise strong hurdle remains at 5630 on the upside and we had mentioned that all pull backs till then will be resisted, we saw too such failed attempts in the past couple of sessions. On the downside swing wise 5490 will hold the fort and a breach of that can see another round of slide.

Trading strategy: Look for long trades in sharp dips with stops and reversal below 5490 odd levels. And look for short trades in rise with reversal above 5605 levels  Also risky intraday traders can trade shorts if markets holds in opening sessions below 5560 range and  vice versa.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5595-5600 sustaining above which it will target 5630,5655
POWERTRADE TREND DECIDER OF THE DAY ------- 5555-60
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5505-5500
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5470,5430
Detailed analysis also posted