NIFTY FUT fails to clear our swing Hurdles. Project NIFTY Fut movement with accurate price point analysis

NIFTY FUTURE- Review of 10^th June

NIFTY FUT – Despite of a positive opening due to global cues market could not stay positive for more than 30 min of opening. As the market fell below the TREND DECIDER as mentioned at 5935 it just couldn’t  manage to hold above the level to make the positive trend. Market made a free fall to get some support at primarily at 5901 then finally getting support at 5890 levels at first half of the day, which we yesterday mention as the BULLS LAST POINT OF THE DAY.

Huge selling was been noticed during the last 45 min of trade when Rupee made its all time low of 57.95 per dollar. Nifty today made a lower low to 5867 but BEARS couldn’t manage to kept it below 5890 on a closing basis.

 We had discussed yesterday that 5855 trading level will be the key trading on a swing basis.

 For three consecutive sessions despite managing to breach below 5890 NIFTY has managed to pull back and close above that level.  Will we see a pull back from here or a breach of the swing trading levels. Read our analysis for the next session

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NIFTY FUTURE- 11^th Jun Trading Guide

NIFTY FUT despite having managed to breach the trading levels of 5890 have managed to close above that in three consecutive sessions. The trading levels of 5850-55 are critical levels on the downside to watch out for.

On an immediate basis 5885-5890 still remain the support level but if break below we can see selling pressure intensifying. In that case NIFTY Fut which can move it again to the 5860 level where again we can see some support to emerge.  Breaking of 5855 can move the market to the low of 5830 level.

   On the upside 5935-5940 remain the immediate resistance on a swing basis and a long trade can be taken above it  with tight stops for the 5960 and higher levels where we can see some sort of resistance. Above 5965 level we may again see on a intraday move to 5990 then to 6005 level. Else this level of 5935 or at 5965  might provide good contrarian pull back trading opportunities.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5955-60  sustaining above which it will target 5990,6030
POWERTRADE TREND DECIDER OF THE DAY ------- 5920-25
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5885-90
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5860,5835