NIFTY FUTURE – 22nd June Recap
NIFTY FUT gave a weak opening thanks to weak global
cues across the board. Made an intermediate high near 5150 levels ( This zone
was our previously marked resistance zone on 21st June for break
above 5125). Once failed to sustain it, NIFTY FUT went on to test our TREND
DECIDER and below it again made an exact low above our BULLS LAST STAND POINT
mentioned at 5090 (Low made was 5090.6).
We clearly wrote that “Momentum
indicators are pointing upwards and will remain son until NIFTY FUT manages to
hold onto 5090 zone.” And look what
a pull back that was all the way to near 5170 levels. NIFTY Trading has been tough on past few
sessions given that it is sticking to same range.
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NIFTY FUTURE – 25th June Trading Guide
NIFTY FUT had yet another close in the same trading range and expected to open in the same range too. Trading in the same range ends up creating multiple supports and resistances with a small zone and hence at time offers no clarity for intraday traders. NIFTY FUT now faces immediate resistance at 5156-70 and trading above which will attempt 5200 levels. On the downside support emerges at 5120-25 levels and sustaining above this will test higher levels. Below this NIFTY FUT will test 5105 levels and beyond that crucial positional support still remains at 5090. NIFTY FUT has bounced make on multiple occasions from this zone and hence it importance is even more significant now.
POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5170-75 sustaining above which it will target 5205,5230,5255
POWERTRADE TREND DECIDER OF THE DAY ------- 5120-25
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5085-90
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5055, 5030,5004
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