NIFTY FUT marks exact top near 6120.Where can it go past this point?

NIFTY FUTURE- Review of 10^th  May

NIFTY FUT –  We  had discussed that the BULLS Last stand point of the day is 6035 levels. Morning low was made there and markets managed to pull back from those levels.
Let us quickly review what we had discussed for the trading session.

“6060-65 will form as the immediate TRENDE decider again and trading above that markets will try to re attempt the levels of 6090-6100. From here through 6125 is a crucial level to be watched out for swing traders . “

NIFTY FUT once above 6060 levels was a long trade opportunity for the upside levels of of 6090 and 6120 once that level was cleared. By the close of the day NIFTY FUT marked a high of 6118 just a shade below 6120.
6120 was a crucial swing hurdle too.
This will be keenly watched out in the coming sessions. Another smart trading opportunity was in pull backs to lower support levels of 6030 odd zones since we mentioned it as a swing support levels. That was a low risk entry with reversal below that zone. Personally I often like low risk entries and stop and reversals below both swing wise and in intraday basis.
We took a trade somewhere in between at about 6055 levels and booked all gains till 6090.

Markets top made just at our swing resistance levels of 6120. This is a crucial swing level to watch out for? Where is it headed beyond this point.

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NIFTY FUTURE – 13^th May  Trading Guide

NIFTY FUT – closed a shade below the 6120 trading levels.This level , rather the trading band of 6120-6135 will be keenly watched in the upcoming trading session. We should witness another leg of upmove in case NIFTY FUT manages to sustain and trade above this trading band.

A break above this trading zone will mean NIFTY FUT can go on to test the swing levels of 6250-6300.  From an intraday point of view  target emerge at 6176 levels.

On the downside NIFTY Fut will find immediate support at 6090 trading levels and below that will enter a nomadic zone. All dips upto 6060 levels will be good pull back trading opportunity.

Trading below 6060  NIFTY FUT trade with a negative bias an may attempt the swing support levels of 6035 odd trading zone. This will be a crucial support level to watch out for. A breach of that can mean that markets high was a false break out and create severe pressure from the bears.

As a trading strategy look for pull back trades or break out trades for the next trading session. The idea is to trade with the swing. Incase NIFTY FUT trades below 6090 though risky traders can look for a quick short trade.

Trading levels for the day:                                                                                                   

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6120-25   sustaining above which it will target 6155,6175
POWERTRADE TREND DECIDER OF THE DAY -------6085-90
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 6055-60
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 6035,6005