NIFTY FUTURE- Review of 22nd Apr
NIFTY FUT
– we had mentioned that if it manages to trade above the TREND DECIDER of 5770
levels it will trade with a positive bias.This is exactly what happened. Let us
review what we wrote yesterday.We wrote—“ , It will be important for NIFTY FUT to trade above the 5770 trading levels. In case NIFTY FUT manages to hold above that zone it will again go on to test the 5800 trading levels . Trading above that zone it will try and attempt the swing hurdles of 5830-35 which was a long term trading level”
NIFTY FUT in the morning session once it managed to hold above a 5800 trading levels it gave a buy opportunity to traders to target the 5830 trading levels.
IN fact got the same opportunity twice during the mid day trading session when that level was tested again and we managed a pull back.
We indeed took that trade too, and were spot on with the exit timing to get a neat gain in a small trading session.
But the star trade was going long in the BANKNIFTY FUT where we minted over 130 points of gains in a single session. This is in fact turning out to be a massive month for BANKNIFTY FUT trading.
Now that NIFTY FUT has managed to clear the 5830 trading levels on a swing basis where is the next hurdle. Will BEARS Fight back or BULLS rule.
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NIFTY
FUTURE – 23rd April Trading Guide
NIFTY
FUT closed above the crucial swing hurdle of 5830 and looks strong, I’m sure
lot of analysts on television would have changed their stands and shouting
longs lately. But readers will recall that we had mentioned in way back when
NIFTY FUT tested 5500 levels, that until we see a close below that level, there
is a fighting chance of a pull back and presents a low risk buying opportunity.
Since then we had witnessed a strong pull back of near 330 points now. Hope
traders earned good gains in these sessions.
Now
the 5825-30 level will behave as the immediate TREND DECIDER of the for the
next trading session and in case it manages to hold above these levels it will
trade with a positive bias and target upside levels of 5860-70 zones which is
the next trading level from a swing as well as an intra day point of view now.
In
case NIFTY FUT even manages to clear that level look for another round of build
up of longs to target all the way upto 5920 trading levels on a swing basis.
On
the downside in case if NIFTY FUT trades below 5830 odd trading levels it will
again trade in a listless manner is likely to find downside support at 5800
trading levels Expect BEARS to take contrl and be in charge in case NIFTY FUT
trades below the 5790 trading levels. On the downside it can fall all the way
upto 5760 trading levels where we should surely see some swing based
accumulation and supply upto 5730 trading levels. Any breach and trading below
it will mean the end of the swing upside.
POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5860-65 sustaining above which it will target 5890,5920
POWERTRADE TREND DECIDER OF THE DAY ------- 5825-30
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5790-5800
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5765,5735
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