Tuesday 4 June 2013

NIFTY FUT clings to the critical support zone. Will it be decisively broken?


NIFTY FUTURE- Review of 4th June

NIFTY FUT – gave a perfect day to trade to the traders as per the trading levels. Simply trading as per levels would had yielded two good trades. Let review them.
What were the trading levels for this trading session?
POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5990-95 
POWERTRADE TREND DECIDER OF THE DAY ------- 5960-65

As traders we also knew that 5935 is a crucial swing support zone, in the morning a long trade opportunity was created once NIFTY FUT managed to move above the 5965 trading levels. This created a trading opportunity to test higher levels upto the Trend decider. Just the perfect recipe for a day trader. High made was at 5994.90… probably a bit of a co incidence ( Just a trend decider) But the fact is that the trading level got respected.

This was the second trade opportunity that was created a contrarian short at those levels or a confirmed short on break of the TREND decider for the downside levels of 5935 and lower.
Idea here is again to trade as per the trading levels and be objective about the trading. We need to strict to the trading levels and combine them with swing support and resistance levels to device the trade plan for the day.


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NIFTY FUTURE- 5th Jun Trading Guide

NIFTY FUT barely managed to hold on and trade as per the trading levels of 5935  almost marking identical lows below that trading level at above 5920 trading zones.  The fact that it managed to pull back and close above the this trading level goes on to signify how important this level has been swing wise.
On an immediate basis 5925-30 will be a crucial trading level to watch out for and a breach of that can see a slide till 5890 levels and lower. On the upside NIFTY Fut will be resisted on all rise upto 5965 levels and above that while we may not see some momentum but may see NIFTY trading more in a choppy manner.
On a swing basis We may see some real momentum for the BULLS  only if NIFTY FUT manages to surface above 6005 levels and that  may signal a reversal in trend. Swing wise on the downside 5890 will be a crucial level to watch out for. This will be important to watch out for in the coming sessions incase 5935 is breached.
Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5995-6005  sustaining above which it will target 6035,6065
POWERTRADE TREND DECIDER OF THE DAY ------- 5960-65
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5930-35
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5890, 5855

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