NIFTY FUT Headed for Interesting Times ahead

NIFTY FUTURE- Review of 23^rd  July and Analysis for 24^th July

Yesterday we discussed that the key trading level on the upside on swing basis remains at 6075 and trading above that can head to 6110 levels. Today we saw markets gap up and move above 6075 in opening sessions. Once markets sustained above that it acted as a support and markets went to head and make a high just below the swing levels at 6107. This NIFTY FUT failed to cross but found multiple support in the 6070-75 zones to manage to sustain and close above it.

This will form as the support in coming sessions and any move below that will make the short term bears active from an intraday point of view. Below that level markets can move to 6035 levels or lower.

On the upside a clear of 6110-15 can mean a massive swing break out and can pull NIFTY FUT all the way up to 6220 trading levels.

On an immediate basis a clear of 6115 can take NIFTY up to 6135 levels and higher.

Why this is interesting is NIFTY today traded in a closed range and a move on either side would mean good high potential low risk opportunities for traders both intraday and swing players.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6115-20  sustaining above which it will target 6135,6165,6220
POWERTRADE TREND DECIDER OF THE DAY ------- 6100-05
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 6070-75
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 6035,6005