NIFTY back near 6050 levels? Where is it headed next

NIFTY FUTURE- Review of 7^th  May

NIFTY FUT – We have been repeatedly writing in the past few sessions that  markets will be trading clueless within the zone of 5935-6000 and that is the break out our break down zone to be watched out. Within that zone we advised a pull back trade with low risk and a break out trade outside that zone.
The pull back trades did yield a fair result for the past few sessions and yesterday once NIFTY FUT moved above 6000 it was time to take the break out trade.
We did mention and write that above 6000 targets emerge at 6030 and 6060 zones, almost both targets got done and swing traders who are carrying positions are going good with their swing longs as well.
Lets review our levels yesterday versus how markets did:
We wrote that the  TREND DECIDER of the day is 5965 levels,markets made a low in the morning at 5985 well above that level. Meaning that the bias  is positive. Then once it took out the BEARS LAST point of 6000 upside trades were on. Look at the targets given on the upside above 6000. It was 6030 and 6065. Markets Did the first one and closed a shade below the second.
 We did initially wait to see if it consolidates below 6000 , once is moved and sustained above that level, long trades were and , we managed to book handsome gains all the way upto 6050 levels. BANKNIFTY FUT too we had a terrific trade reaping in 80 odd points gains.


NIFTY FUT is back to near 6050 levels, will this level? Where is it headed next? Read on at our analysis for the next session.
Folks who love systematic trading can follow our Automated Stock Calls posted live at our Facebook page : www.facebook.com/powertrade.trading

Time your trades with perfection and high accuracy ? Trade with the specialists of the index. Check out our

Are you looking for complete guided trading without any hassle?.. Are you still worried about your trade entries? Are you missing on these turning points entries? How about looking at our points guaranteed services. …... Where to take the next trade? Did you catch the move in the right time?.... Are you still guessing where to trade? Subscribe to our premium calls and leave your trade entry and exit worries to us. 

NIFTY FUTURE – 8^th May  Trading Guide

NIFTY FUT –closed strong above the 6050 trading levels just a shade below the next upside targets of 6060 zones.

This will form as the immediate trend decider in the next session and decide the bias of the market.

Before that a key take away from yesterday’s trade—Yesterday markets scaled above 6000, this was a new high in the recent swings and then it went on to make another top at higher levels. The point that I’m trying to make Is when markets make recent new highs or lows, as a trader many of us are unsure as to how far it will go? Will it go higher or will it pause. The indecisiveness and doubt may lead to a trader either not taking a position at all or trying to book a position early in fear that markets may not sustain.

This is where a disciplined trader makes the difference. We use our unique price point analysis to generate the levels. The idea is as a trader I just need to stick to my levels and the trading plan. One should have no fear of where it might go and what might happen, trade to the plan, carry and book positions at defined levels and reap in gains. One should keep fear/greed and a predicting thinking away. No one can predict where it may go. We can make projections and trade as per them.

Coming back to the charts.  Immediate swing decider is 6060 levels, if sustaining above that there are fair chances of taking on higher levels of 6125 trading levels. This was a swing level given few sessions back and hope swing traders are holding onto longs to trade for that target.

On the downside 6030 levels will form as the key support and any dips to that will be bought into in an intraday basis. Intraday mood may become real negative if markets again move below that trading level.

Swing wise support now emerges at 5990-6000 trading levels, only a  break of that will mean yesterday’s trend break out could had been a false one.

On the upside if NIFTY Fut manages to trade above 6060 zone it will try for upside targets of 6090 and the swing targets of 6125 trading levels.

Trading levels for the day:                                                                                                   

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6060-65  sustaining above which it will target 6090,6125
POWERTRADE TREND DECIDER OF THE DAY -------6030-35
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5990-6000
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5965,5935