NIFTY FUTURE – Review of 12th December
NIFTY FUT- Another range bound session giving
nothing away to the traders on both side. We have been writing continually on
how important the 5920-60 zone had been and only a considerable movement would
happen beyond this range. Barring spikes just around this level markets stayed
within this range and did nothing to attract any interest. Again as we repeat a
trade need to be immensely patient and develop the technique to be able to stay
neutral in these range bound sessions and take decisive trades beyond this
trading range only. It is futile to take entries within a restricted range. The
idea is to use the trading levels in conjunction with one’s trading rules and
decide and plan for trade entries and try to stick to it.Not much to write home again but the fact that NIFTY FUT pretty much hovered between our TREND DECIDER and the BEARS LAST stand point again.
So what are the critical trading range to look out for the in the coming sessions.
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NIFTY FUT traders stayed neutral today and no trade was take
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NIFTY
FUTURE – 13th December Trading Guide
NIFTY FUT before we move onto see let us look and do a
quick review of NIFTY FUT on a larger context. If you look at the weekly charts
NIFTY FUT has formed two small weekly candles after the big move we saw 2 weeks
ago. From that context too a direction is likely to emerge once NIFTY FUT
manages to clear the trading range of last week. This is 5870 on the lower
side and 5984 on the upper side. Now the
beauty is this is almost in line with the higher trading range we mentioned just
yesterday (we talked about 5860-5990 range). This ends up becoming a double
confirmation of the trading range and the next round of direction to emerge
beyond this range. Till then as we advised traders look to take pull back
trades with stops and reversals below the range.NIFTY FUT as again if manages to sustain below 5920 although can trade choppy now as the range has expanded look to take short side trades for targets of 5890 zones. On the upside a clear of 5960 can again go on to test 5990 range.
Break of 5890 will possibly lead to a retest of 5865 on the downside levels where we expect support to come in. In case NIFTY FUT manages to break that we can see it slide all the way to 5820 odd levels. Expect a breakout only on clear of 5990-6000 range on the upside for the eventual swing targets of 6048 and higher.
The short term momentum are now neutral and will turn negative below 5890 and positive only above 5955. The midterm momentum indicator hold positive above 5865 levels.
As for trading today the levels are as follows:
POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5955-60 sustaining above which it will target 5990,6025,6048
POWERTRADE TREND DECIDER OF THE DAY ------- 5920-25
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5890-95
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5865,5835
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