Nifty Outlook. Where are markets headed. Trading zones at these levels

Nifty futures have corrected sharply for the last few sessions. Some of it was triggered by a news based move and part of it coinciding with classical divergence patterns combined with price point analysis.

Here is a look at what has happened on the charts and where are we headed from here. NIFTY is approaching interesting levels here. Here is a look at the hourly charts of Nifty and an analysis of it.

NIFTY FUT SHORT TERM SWING CHARTS

Nifty has displayed a classical divergence pattern with RSI where RSI failed to make a higher high despite markets moving here. Once it failed to breach 6180 there was a look risk contrarian trade opportunity near that levels.

Since the crash that we witnessed post the RBI news NIFTY has been falling with a descending pattern across a channel. The channel low is now at 5840 zones.

The trading levels of 5840-5810 is also a support range to watch out for . swing wise this will be the key level to watch out for. This may provide a low risk contrarian opportunity.

A breach of that level can lead to a test of 5745 and 5640 on the lower sides. On the upside resistance remains at 5960 trading zones and any pull backs to that level will be resisted.

Only if NIFTY Fut manages to  close above that level can ensure a reversal of the down ward swing and a resumption of the upward move. 

NIFTY FUT tests Critical Averages on the downside. How to trade it at these levels

NIFTY FUTURE- review of 29^th July and Update for 30^th July

NIFTY Fut today cracked through 5900 trading levels today closing at 5870 odd zones. What is important about this level is that this is exactly the 100 day moving average for Nifty Fut. If not for anything just another psychological level for the markets.

 On the downside a break of this level can lead to a test of 5845 on the downside and below that Nifty Fut can slide to 5810-15 levels where it might find some swing support and show signs of pull back and profit booking for shorts.

A crack of that level on swing basis can lead to another leg of downside move.

On the upside immediate hurdle lies at 5900-05 levels and only clearing that we can see a positive bias in the markets. Until it trades below it expect bears to be in control and short on rise will be a preferred option.

Trading above 5905 NIFTY fut can head to 5930-35 levels on the upside where it will face severe resistance and may not just cross in a jiffy. Swing bulls will only be back above that levels.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5930-35  sustaining above which it will target 5965,6005
POWERTRADE TREND DECIDER OF THE DAY ------- 5900-05
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5870-75
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5845,5810

NIFTY FUT Are You capitalizing on the volatility- With price point analysis

NIFTY FUTURE- Review of 24th  July and Analysis for 25^th July

Another massive gap in the opening session. How to deal with such gaps. The questions that crop up at the opening session for traders is to take a decision whether to follow the trend of the gap or look for a low risk counter move. Both are lucrative trading opportunities. In that case how to analyze in a quick move on which trade to take.

Well the answer simply lies in price point analysis and combining them with the trading levels.  We had mentioned in the previous session that 6075 will be the key level on the downside. Once markets opened and in the opening session it traded below 6075 where opening high was created at 6059 levels it was a signal where that level can be used as a stoploss for shorts and reversal above.

We had mentioned that the downside targets were up to 6005 levels all levels got done. But the star trade was with BankNifty futures which yielded near 150-200 points in a single session.

NIFTY FUT tested the levels of 5975 on the downside and managed to hold  that level witnessing a marginal pull back to close just above 6005 levels.

So what is the potential trade tomorrow.

6005-6000 will be the trend decider in true sense and markets will display a bullish nature if it holds to trade above that or a bearish nature below it. On the upside 6025 will form the immediate hurdle and clearing markets can move to 6045 levels and higher.

On the downside a below 6000 levels markets can retest 5975 levels and below that can slide all the way to 5930 levels.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6045  sustaining above which it will target 6075,6110
POWERTRADE TREND DECIDER OF THE DAY ------- 6000-05
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5975-70
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5935,5895

Elliot wave and price projections at its classical best. What are the next projections?

NIFTY FUTURE- Review and Trading Analysis-21st June

NIFTY FUT –  marked the classical  Elliot wave and price projection reversal in the recent downmove.

While many traders would had earned trading shorts it is to take a worthy note on how Elliot wave projections gave an entry signal at much higher levels and how our traders capitalized on them big time.

Readers will recall that we posted the charts few days back (Refer to our blog chart analysis for 17^th June). We mentioned that NIFTY FUT has completed wave 3 and was marking a retracement on wave 4.

The beauty was that the wave 4 topped out exactly at 61.8% retracement levels giving an much earlier entry before the crash happened.

Yes the FED stand on QE made sure that global markets tanked big time and Indian markets were no exception too. Yes this help cover a huge range of wave 5 move in a single session 2. No denying the fact.  What we were expecting as a gradual downside move was largely covered today.

Now how price point analysis confirmed this. Refer to the same blog post. We had mentioned that while NIFTY FUT witnessed a strong island reversal pattern we mentioned that 5870 is the key hurdle on upside and only a clear of that will confirm as strong upside reversal.

Markets during the course of the week made a high of 5867.5; exactly below that level and failed to clear that zone on the upside. This confirmed a respect of wave 4 retracement too when 5835 was breached on closing basis.

Now where are markets headed from here? As we say one picture is worth many words and they always act as a ready visual reference to your trading.

NIFTY FUT CHARTS-20TH JUN CLOSING- SWING AND INTRADAY PROJECTIONS

Now Fut closed exactly at the first target of wave5 at 5640 trading levels. Below that the next swing projection is 5580 and if that is breached on a sustained basis we are looking at hitting near 5400 trading levels.

On the upside  On the upside swing wise immediate hurdle will be 5690-5700 trading levels and a clear of that will indicate some sort of reversal only.

From an intraday point of view 5640 will also act as a TREND DECIDER and sustaining below it shorts will be active again. Intraday reversal zone is 5670 levels  on the upside. On the downside expect support to emerge out at 5580 levels and a breach of that will result in fresh shorts.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 567075  sustaining above which it will target 5695,5730
POWERTRADE TREND DECIDER OF THE DAY ------- 5635-40
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5600-05
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5580,5535

NIFTY FUT cracks 5855. Fulfils Downside swing targets. Trading strategy here

NIFTY FUTURE- Review of 11^th June

NIFTY FUT – Yesterday we had mentioned that 5890 was the key trading level to watch out for and that’s the level below which we have been asking to initiate short trades.

For two previous sessions this level was breached but managed to hold on with a closing basis. But the beauty of price point analysis was this level intact as trading level  and hence trades had to be taken.

Look at what we wrote:

POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5885-90

Once markets opened and traded below this level it was evident shorts would be the flavor of the day.  Since we saw NIFTY testing 5860 which was the swing level identified. Shorts were taken below that level and the result was precise trading and terrific swing moves getting done in a single trading session.

Apart from the profit the key take away from the trading has been despite two failed breakdowns it called for the trade to be taken for the sheer discipline of trading.

NIFTY had one of the most massive falls in the recent memory, cracking by near 200 points from the previous session and at the same time closing below the crucial 5800 trading levels.

Another important thing to note that we have been encouraging traders is to diversify their trading across multiple underlyings. This not only de risks the capital but also lets you at times hold positions on both ends. Like we capitalized on HCLTECH in longs since past few sessions and at the same time with shorts in ICICIBANK. This as a trader at times helps spread your risk.

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NIFTY FUTURE- 12^th Jun Trading Guide

NIFTY FUT straight way drifted sharply once 5855 was breached to test the trading levels of 5800 and even closed below it. The fact that it closed on the lowest point of the day signifies that the BEARS are not done yet and may have some steam to go.

Where are we headed from here, where is support likely  to emerge.  On the downside next key support is at 5765 trading levels. This is somewhere we should see a pause and profit booking. If that level is breached we can see a further round of downside to test lower levels. This can lead to a test of the 5690 odd trading levels on the downside.

On the upside it is important for NIFTY FUT to move above and trade above the 5805 levels to show some resilience. But at this point all rise to 5835-40 levels should be shorted . That is the immediate level to be watched out for and would be good point to initiate long trades above that.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5835-40  sustaining above which it will target 5865,5890
POWERTRADE TREND DECIDER OF THE DAY ------- 5800-05
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5760-65
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5730,5690

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

NIFTY FUTURE- Review of 23^rd 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-25^th   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

NIFTY FUT again marks the swing target at 6190 levels. Will this level sustain. What is the swing projection

NIFTY FUTURE- Review of 16^th  May

NIFTY FUT – Yesterday we had mentioned that it will be important for the market to sustain above the 6155-60 trading levels. IN the morning session markets opened just around that trading level and blasted past the trading zone as we mentioned. We also discussed that the upside targets is 6200-6210 trading levels

This is exactly where markets topped out today and paused . Good part to justify the strong up move is that markets managed to hold on to that trading level. We had two strong days of upmove and haven’t seen the trend wilting as of yet by any chance.

Days like these are at times difficult to trade. Do we trade a break out? Or Do we wait for a pull back. It’s a risk reward trade off. For our swing positions since the stops are higher we are not that worried but for intra day trading positions we prefer a lower risk reward ratio. It is then paramount to time the pull back well.

Those are the situations where the trading levels come in very handy.  We got a very good pull back opportunity today going long in dip near the 6170 trading zone. And locking in quick gains in pull backs.

What is the next trading level to watch out for. What is the next break out level for markets to surge further? Read our trading review for the next session.

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NIFTY FUTURE – 17^th  May Trading Guide

NIFTY FUT made a swing high today at 6200 trading levels and closing a shade below that only near the 6180 trading levels.

The upside trading band of 6200-6210 will form as the next crucial intraday and swing resistance together Any sustained close above it this time can propel NIFTY FUT towards the upside trading levels of 6300 and 6350 on the swing basis.

For the immediate trading levels 6160-65 will form as the TREND DECIDER and trading above that market will continue to maintain a positive bias and will attempt to take out the upside levels. At the same time trading below that level will mean that  we can see some some profit booking. But such has been the strength of the break out move that until the swing levels of 6100  are breached we will see some buying support in dips.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6200-6210   sustaining above which it will target 6240,6290
POWERTRADE TREND DECIDER OF THE DAY ------- 6160-6165
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 6130-35
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 6110, 6090

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

NIFTY FUT 6090-6125 zone holds the key? Can all time highs be tested in coming months?

NIFTY FUTURE- Review of 9^th  May

NIFTY FUT –  One of the most significant things that we have been able to achieve with price point analysis is to be able to project the range even before they are tested. Readers will recall we wrote above 5935 even before we saw that level being tested.
We wrote about 6090 as an upside swing target and markets exactly paused there in the up move.
As per yesterday’ lets see what we discussed. We wrote:
“closed the day strong exactly at 6090 trading levels.  This will now form as the immediate hurdle”
NIFTY FUT marked an open high there and eventually cracked the TREND DECIDER, below that low was exactly made above out BULLS LAST STAND point levels.  For that we had also written that it is the crucial swing support and selling pressure will only intensify if that level is broken. Since that level was sustained we saw markets pulling back and managing to close around the TREND DECIDER.

Why is 6090-6125 such a crucial zone to watch out for? Where can markets head to beyond that point.

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NIFTY FUTURE – 10^th May  Trading Guide

NIFTY FUT – closed the day around 6060 zones which was also the TREND DECIDER for yesterday, aptly describing the market mood at this level,that is neither too bullish nor bearish.

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 .

A break above that can propel markets to 6250-6300 trading levels on a swing basis, yes this will mean NIFTY FUT regaining the all time highs. Can we do that. Well lets see if we clear the 6125 hurdle.

In case markets fail to clear 6125, risky intra day traders may look to take quick short trades with low risks and reversal on sustenance above that.

On the downside now 6060 levels will form as the immediate trend decider and any dips to that level will be a good pull back buy opportunity. Below 6060 levels crucial support comes in at yesterday’s trend decider now at 6030 zones.

Only a break of this zone can see some selling pressure now to test the levels of 5890 and lower.

Trading levels for the day:                                                                                                   

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6090-6100  sustaining above which it will target 6125,6160,6195
POWERTRADE TREND DECIDER OF THE DAY -------6060-65
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 6030-35
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 6005,5870