Showing posts with label NIFTY FUT CHART ANALYSIS. Show all posts
Showing posts with label NIFTY FUT CHART ANALYSIS. Show all posts

Tuesday, 13 August 2013

Mastering Nifty Fut with Trading Trend lines & Price channels

NIFTY FUTURE- Review of 13th Aug and Update for Next session

We all use various kinds of analysis and technical tools and techniques like( Fibo, gann, price point analysis, Trendlines etc) to find out patterns and making projections for the next move.  At times we use multiple tools or techniques. They give a dual advantage. One is many a times one of the techniques seem to work well during phases and secondly also that a confirmation of a level on multiple techniques serve a double confirmation for trades.
Now the fun part is most of the times the simplest of the techniques work best.  Trendlines is one of the classic and time tested techniques in the markets. TRENDLINES along with price channels form a very good combination and give a strong idea where price can be headed. They can also be utilized to get an idea of stops when one wants to trail the trades.
Let us review NIFTY charts based on price channels and trend lines. Today 5635 levels formed multiple trading confirmations to ensure a clear breakout and once NIFTY FUt managed to trade above that range it gave a clear confirmation. Let the picture tell the rest of the story..

NIFTY Future Charts-13th Aug. Price Channels and Trend Lines


So where is it headed from here. Longs will hold good until NIFTY fut manages to trade above 5665. Managing to trade and sustain above that can ensure NIFTY Fut goes on to target the levels of 5765 and 5830 on the upside price channel trends. On the downside a breach of 5665 will ensure a re test of 5635 and lower levels. 5635 will form the downside pivotal level on the downside a breach of that will ensure a confirmed renewal of the downtrend.



Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 571  0-15  sustaining above which it will target 5735, 5765,5830
POWERTRADE TREND DECIDER OF THE DAY ------- 5665-70
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5635-40
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5610,5570

Thursday, 23 May 2013

NIFTY FUT cracks 6090. Pre analyze market movements with price point analysis


NIFTY FUTURE- Review of 23rd May
NIFTY FUT – A good unidirectional trending day, albeit on the short side. Yesterday we had mentioned that 6080-6090 is a good swing support levels and advised traders to try long above it and go short below that zone. Markets exactly marked an opening below that level  and never managed to cross that level for the rest of the day. Such was the importance of this trading level. Fortunately for our readers they were well aware of this even before this move happened.
 Today market open below yesterday’s low of 6081 with a open equal to high and the market fell from that level and  did with a amazing consistency.. As opening was below 6080 level as BULL LAST STAND POINT OF THE DAY this opened up downside targets of 6060 and lower levels as well.
This was the trade we took below 6060 levels for downside targets of 6030 as per our trading levels.
As market went below the 6000 level which meant the market has a lower range as few days back we have mentioned that 6000-5990 as the support level breaking of that  move the market to breach to 5950-5955. Look at the market reaction once 6030 and then 5990 was cracked, all our downside targets were done. Our client again went short below 5990 and reached a target of 5960 level were they exited. Look at the charts NIFTY low made exactly there at 5950.
Again dear friends this is not a rocket science but simple price point analysis considering multiple trading swings and range in view..
How are the markets expected to perform in the coming sessions, what are the critical support levels to watch out in this zone. Read our detailed analysis for the next session

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NIFTY FUTURE-25th   May Trading Guide

NIFTY FUT firstly truly surprised with the pace of the correction, while we were prepared to go short below 6090 and in fact did take two trades both working great we were at the same time little surprised with the pace and the range of correction. Historically correction though has higher paced many times than upmoves.
Coming back to trading levels. The low marked today is extremely critical. This is crucial retracements levels of the entire upswing.  A break of this  may be 5930, could mean further downside  on swing basis to test levels of 5860.
On the upside immediate hurdle comes at  5990-6000 and strong swing hurdle now emerges at 6025-30 zones. All rise to that levels will be countered and a clear of that levels will again mean BULLS are back.
This is an interesting scenario trading wise where long term momentum is still intact on the upside and at the same time short term and medium term momentum is downwards biased.  Usually personally we prefer low risk pull trades and reversal in the direction of the trend if that fails.
In view of that it will be an interesting pull back trade to take with stops around 5930 and reversal below that zone. Adding up only if 6030 is cleared though. Lets see how that trade set up works out.
Although for intraday trade perspective advice to traders is to strictly follow the daily trading levels.
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Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5990-6000   sustaining above which it will target 6030,6060
POWERTRADE TREND DECIDER OF THE DAY ------- 5950-5960
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5930-5925
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5890,5870

Tuesday, 14 May 2013

NIFTY FUT manages to hang around the 6000 zone. Will tomorrow be the make or break day for this swing.


NIFTY FUTURE- Review of 14th  May
NIFTY FUT - Started the day on a negative note with despite positive global cues.  At the same time NIFTY FUT managed to find support all over again on 5990-6000 level as we had mentioned yesterday.
We have been strongly advising that until NIFTY FUT trades within a range look for pull back trades in this zone and outside the range look for a break out trade. Market allowed a pullback trade opportunity today on both sides as in the morning markets opened up and failed to sustain above our TREND DECIDER of the day. Once markets breached the 5990 levels on the downside but only managed to touch 5980. When that level was not broken, markets pulled back again to top out just near TREND DECIDER again and went to Bears Last Stand Point of the Day 6030-6035 levels. 
As market couldn’t sustain 6030-35 levels its fell back to the TREND DECIDER level and just managed a close above it. Whats the trading mantra for the coming sessions?
 
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NIFTY FUTURE – 15th May  Trading Guide
NIFTY FUT displayed a range bound move failing to break away on either side of the trading range, this at the same time increases the probability of a strong move on either side. Markets have not found any trigger to take it beyond the trading range.
NIFTY Fut now again faces immediate hurdle at the 6035-40  zone and above that can go onto again hit the hurdle zone of 6060-65 levels. Expect a strong momentum move in case markets are able to clear that range on the upside to hit the target zones of 6090 levels and ahead.
On the downside if this time 5980 is cracked  we may see a good move to test the swing support levels of 5955 range on the downside and expect some supply to come in at that zone.
Will tomorrow be a make or break day for the markets? We would like to believe so. Watch out for the trading zones and look for a clear break out trade outside our trading ranges.

The short term momentum is now neutral and will be negative once NIFTY FUT moves below 5980 levels.  The midterm momentum indicators remain positive until NIFTY FUT holds above 5960 levels.


As for trading today the levels are as follows:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6035-40   sustaining above which it will target 6060,6090
POWERTRADE TREND DECIDER OF THE DAY -------6000-6005
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5970-5975
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5930,5904

Monday, 6 May 2013

Markets manage to hold 5935. Can it hold on to the crucial Swing levels?


NIFTY FUTURE- Review of 6th  May
NIFTY FUT – started the day on a negative note with despite strong global cues.  At the same time NIFTY FUT managed to find support all over again just at 5935 odd trading levels.  We had mentioned that this level was  a swing support level even before that this level was tested . Readers will recall that we had mentioned that  if NIFTY FUT cracks 6000 few trading sessions back , it had a potential to dip all the way and test 5935 levels . We had also mentioned that 5935 was a swing support and supply. This had managed to hold for the last two sessions.
NIFTY FUT  managed to find support there and pulled back to the trend decider levels.
Yesterday we also discussed that within the range 5935-6000 NIFTY FUT will trade choppy and it will be prudent to try pull back trades within this range and only look for a break out trade outside this zone. This would had yielded good results.
We did exactly take a pull back trade in that zone of 5942 levels. As we wrote and managed a quick pull back trade. Beauty was we also at the same time got a good 70 odd points in a short trade in BANKNIFTY before this level was tested.

Now that NIFTY FUT had managed to hold onto 5935 trading levels for two sessions in a row. Does the picture change here on a swing basis? Read on for the trade analysis for the next session.
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NIFTY FUTURE – 7th May  Trading Guide
NIFTY FUT – Managed to hold onto the crucial trading levels of 5935 for two consecutive sessions and this now makes that level even more important to watch out in the coming sessions. 
At the same time the trading level of 5935-6000 will still play choppy and until market hovers within this range it will prove low risk pull back opportunities. Since we had seen a strong unilateral pull back in the last month some range bound move and correction is also a healthy thing in the market. We need to plan and look for swing pull backs in retracement levels and short trades in extreme rise with reversals above break out zones.
Dear traders also need to realize that markets are not always favorable or easy to trade. Last month was terrific yelding great results but we also need to look back in months of jan and feb when markets where extremely range bound and just very difficult to trade.  This is just to emphasize that if you have a trading plan do stick to it for a decent sustained duration. If you have back tested the trading strategy then stick to it with even more confidence.
Coming back to the current trading levels. The strength of movement on breach of 5935 may not be severe as we still have a support levels o 5890-5900 trading levels. While at the same time on the upside if markets manage to hold above 6000 trading levels the momentum may be relatively stronger.
From an intraday point of view 5960-65 will be the trend decider. If markets sustain above this zone it will trade with a positive bias. But true break out will only happen if NIFTY FUT manages to break out above 6000 odd trading levels.
On the downside trading below 5960 levels NIFTY FUT will trade with a negative bias and break down below 5935 will ensure bears are in control and there are good chances that we will see a test of 5900 odd trading levels.



Trading levels for the day:                                                                                                   

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6000-6005 sustaining above which it will target 6030,6065
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 ---- 5905,5870

Thursday, 2 May 2013

Analysts busy predicting tops and bottoms. Simply Follow the markets with price point Analysis


NIFTY FUTURE- Review of 2nd May
NIFTY FUT – A fantastic trading day for the readers and traders of our blog. We had mentioned that 5910 levels will be the TREND DECIDER and above that markets will trade with a positive bias and the break zone was mentioned as 5935 trading levels.
Lets Review what we  had wrote and how markets reacted. We had discussed that the BEARS LAST Stand point is 5930. Meaning trading above that zone markets will clearly favor the BULLS. Look at the market low in the opening minutes. Yes You guessed it right. Exact Low made was at 5930. This meant that the clear trading direction was established once markets managed to sustain above 5930 trading levels.

We also advised that folks can try a pull back trade with stops and reversal above 5965 zones. Now that’s where a little on market improvisation comes in. As  a trader we see that the low made is above BEARS LAST stand point and at the same time the swing hurdle was almost tested. So a risky trader can take a quick trade or a safe trader can just wait to see for a confirmation. Either way once 5965 was taken out it blasted to do all upside levels.

Our traders went long at 5952 levels and booked gains all the way till 5995 trading levels. Making it a big day for the traders just following the levels and with price point analysis.


NIFTY FUT managed a strong pull back and closed strongly above 6000 levels. What is up next where are the next levels to watch out for? Read our analysis for the next session

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NIFTY FUTURE – 3rd  April  Trading Guide
NIFTY FUT – Proved all the analysts wrong who had jumped the gun to declare they are short and predicted sever downsides for the market. We saw a slew of analysts yesterday when markets breached the 5900 levels yesterday on an intraday basis to be proved wrong by the end of the day.
The problem that  I have observed is instead of being more focused on analyzing and following the markets analysts instead are busy predicting the markets to go to this level and that level. Yes I agree that may happen but for once just try and follow the way it is playing at the current time. Why predict. Let us just analyze the current situation and the current trend. Every analyst these days wants to be a prophet trying to predict the market move sometimes funnily by 500 points or more.
Coming back to NIFTY FUT. It will find immediate support at the 5990-6000 levels and trading above that zone it can go onto attempt the swing hurdle levels of 6035. Yes that’s the immediate level to watch out for in the coming session. This is a strong swing hurdle and trading above that  can  start the next leg of upmove all the way till 6125 levels on a swing basis.
From an intraday point of view NIFTY FUT will attempt the 6065 levels once it manages to move above 6035 levels.
On the downside a breach of 5990 this time will ensure that market may again test the downside levels of 5965 trading levels.
This should act as a support and supply zone all the way upto 5935 levels and only a breach of that can mean that the break out yesterday was a false one and can kind of signal an end of the uptrend.

Trading levels for the day:                                                                                                   

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6025-30 sustaining above which it will target 6060,6090,6125
POWERTRADE TREND DECIDER OF THE DAY -------5990-6000
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5960-65
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5935,5900

Wednesday, 1 May 2013

NIFTY stages a surprise pulling back above 5900 after testing swing supports? Will it manage to hold?


NIFTY FUTURE- Review of 30th Apr
NIFTY FUT – For the 30th we had discussed that  above 5930 odd trading levels also the BEARS LAST STAND point NIFTY FUT will go on to test the levels of 5960-65
This is what we had wrote: “NIFTY FUT will again face immediate hurdle at 5930-35 odd trading levels again and clearing that level will ensure that NIFTY FUT will go onto to test the higher trading levels of 5960 odd and higher levels of 6000.”
Now in the morning session markets witnessed a gap up and tested the 5960 levels which was the immediate target above 5930. But once that level was not sustained it moved downwards and the same levels acted as a resistance ensuring markets failed to clear that for most part of the day. We did take a trade infact above 5960 and had to book at 15 points hit there.
We also mentioned that the TREND DECIDER of the day is 5915 levels meaning a movement below that will be with a negative bias. This is what happened once that level was broken. We took the short trade exactly at that point too. First the target of BULLS LAST stand point was tested at 5885. Let us also review what we had wrote for the downside trade:
“On the downside a breach of 5885 odd levels will ensure that this trading range is breached on the downside and NIFTY FUT can again go onto to test  the 5860 levels and lower Immediate trading per se 5910-15 will form as the TREND DECIDER”
Once that level was broken NIFTY FUT made an exactly low above 5860 levels doing bigtime on the downside trades all the way from 5910 levels. This is also the points where markets surprised the analysts pulling back sharply to again test 5900 and 5930 levels and closing above 5900 levels.
NIFTY FUT managed a sharp pull back to close above 5900 levels? What is in store next.

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NIFTY FUTURE – 2nd  April  Trading Guide
NIFTY FUT – If we look into a larger time frame and look at the week’s candle so far we will see that it has traded within a 100 points range of 5860-5960 since the gap up created on the 25th.  Funny part is this is almost the same trading gap that we witnessed on the downside move and this gap was created on the 18th March.
Swing wise since we are now trading in this 100 points range it will be critical to see how NIFTY FUT moves from here. A break of the range on either side will almost decide the next leg of the momentum. Until that happens as we always advice it is better to look for a pull back trade within the range extremes and a break out trade outside the range.
Most analysts were jumping onto shout shorts and few even coundnt hold their guns and seem to have announced that within the market session on the 30th itself. Instead of waiting to get a confirmation with the daily candle close.  We will have to see how far they are correct. For our traders though swing wise 5860 will hold the fort. This is the same level market tested and sharply pulled back as well.
NIFTY FUT will have the trend decider at 5910-15  levels and  trading above that will always show a tendency to pull back. Below that it can  test the levels of 5885-90 again a breach of it this time may just see a serious slide. Real concern for the BULLS though will be a breach of 5860 odd levels.
On the upside NIFTY FUT will again test the upside swing levels of 5960 once it manages to clear 5930-35 levels. This might be a good level to take a pull back trade with lower stops and reversals above it for higher trading levels.
Trading levels for the day:                                                                                                   

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5930-35 sustaining above which it will target 5960, 5995
POWERTRADE TREND DECIDER OF THE DAY -------5905-10
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 ---- 5865, 5830

Tuesday, 23 April 2013

NIFTY hovers around the same top. Where is it headed? What are the key trading levels ahead.


NIFTY FUTURE- Review of 23rd  Apr
NIFTY FUT –  traded in a choppy manner for the good part of the day and gave a pretty listless day after quite some time.  Infact we got hit in the trailing stop in our trade after quite a few sessions.
NIFTY FUT made identical lows and highs in the past two trading sessions.  We had mentioned that the TREND DECIDER of the day is 5825-30 zones , due to the choppy nature we witnessed that this trading level being tested on quite a few occasions but failed to clear out that until the closing sessions.
On the downside we mentioned that the BULLS LAST stand point of the day as 5790, NIFTY FUT failed to breach this trading level and hence witnessed a pull back to give  a strong close eventually.
Possibly on hindsight the pull back was trade we would had wanted to take.

NIFTY FUT closed strong just above the trading zone of 5830 trading levels, what are the next critical trading levels to watch out for. Where is it headed next. Read our review for the next trading session.



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NIFTY FUTURE – 25th    April  Trading Guide
NIFTY FUT  closed strong just above the 5835 trading levels.  We also witnessed identical bottom be made just above the 5790 trading levels. This will form as the immediate intraday as well as the swing trading level.
Also 5825 will continue to be the swing decider trading level, If market trades above this zone it will continue to trade with a positive bias But on a swing basis now the trading levels of 5840-65 will form as a key swing hurdle . So any long created on break out need to be a bit cautious. At this same time a sustained move above 5870 will ensure that NIFTY FUT can go onto test the swing trading levels of 5930 and 5980 on the upside in coming sessions.
On the downside this time a breach of 5790 can mean lot of long position un winding. And some profit booking to test the trading levels of 5765 and 5730 zones.
Trading strategy: Look for a pull back trade  until nifty fut holds above 5790 trading levels and a stop and reversal below that zone. On the upside traders may initiate long positions above 5830 trading levels. Safe traders or swing traders can look for  a clear break out above 5870 odd trading zones.
Trading levels for the day:                                                                                                   

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5865-70 sustaining above which it will target 5890,5920
POWERTRADE TREND DECIDER OF THE DAY ------- 5825-30
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5790-5800
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5765,5735

Tuesday, 16 April 2013

NIFTY Pulls back exactly from our Support zones. Didn’t we hear the analysts say short few days back?


NIFTY FUTURE- Review of 16th Apr
NIFTY FUT – Readers will recall that few days back even in the last trading session we had been harping on the point that 5500 is a support and supply zones and until it trades below it there is a good low risk pull back opportunity.
For today we had mentioned that the TREND DECIDER of the day is 5560 levels and if it manages to trade above it will look for an upside bias.
This was a long trading opportunity. We also mentioned that one can take pull back trades within the 5500-5600 zone and reversal break out trades outside the zone. This was a second opportunity to go long in reversal above 5600 levels giving away near 100 points of total gains. Hope readers stuck to the trading strategy and capitalized on decent gains.
We too took two trades during the sessions and managed to come out with flying colors.

NIFTY FUT closed near the 5700 odd trading levels and closed a shade below it. What is the next crucial trading level to watch out for. Read our analysis for the next session.
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NIFTY FUTURE – 17th  April  Trading Guide
NIFTY FUT closed near the crucial trading levels of 5700, just kissing the 5700 trading levels and closing a shade below it. We had been telling that  5630 is the crucial TREND DECIDER on a swing basis. We also mentioned we will witness a good short covering once that level is breached. Today we saw that momentum and that was pretty much the last resort of the BEARS which was taken out.
Just a few sessions back BEARS looked in good control and I bet many analysts would had been shouting shorts all the way. Despite that we had mentioned that 5500 is a crucial swing support and until we sustain below that level we are in for  a surprise ( Read a pull back opportunity with low risks). We had witnessed a near 200 points pull back from those levels. Is it time to cool the heels now? Well that will depend on the next trading level.
Firstly it will be important for NIFTY FUT to sustain and trade above 5690-5700 trading levels in case it sustains above that level it will be headed for 5725-30 trading zones. This will be the next immediate hurdle and a clear of that can propel NIFTY to 5765 levels and higher. Long time readers will recall 5765 was a level we dealt with for quite some time in the last series.
On the downside it will be important for NIFTY FUT to sustain above 5660 levels for the break out of yesterday to hold and trading below that will lead to test of  5630 levels , which was the immediate break out level in the last session.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5725-30  sustaining above which it will target 5765,5790
POWERTRADE TREND DECIDER OF THE DAY ------- 5690-5700
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5660-65
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5630,5605