NIFTY FUTURE – Review of 19th December
NIFTY FUT-
had another range bound session yet again only managing to create a
higher low and a higher high compared to the previous sessions but still
managing to stay in the overall range. NIFTY FUT again had a high and low
within a small span of 30 odd points. What was key to note was we mentioned
yesterday that NIFTY FUT will trade positive above the trading range of 5920
odd levels. NIFTY FUT today created low above that range but at the same time
failed to take out our BEARS LAST STAND point of the day. This was also the
clue as NIFTY FUT well within the trading range of TREND DECIDER and BULLS LAST
STAND Point. Readers will also recall that we have been asking to look for pull back trades within the 5865-5960 range and breakout above them. For now this seems to be giving the only trading opportunity if any.
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What are the key levels to watch out for in the next sessions this week? Read our detailed analysis for the next session.
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NIFTY FUT traders decided
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NIFTY
FUTURE – 20th December Trading Guide
NIFTY FUT firstly just to set the perspective that
how range bound and frustrating this month is. We will see that other than the
spike low created yesterday markets are trading within a 150 point odd range
for this entire month. That’s how squeezed the markets have been. These are
times it also calls for a sustained patience from the day trader and yet be
able to take trades when the right opportunity arises. But don’t fall into the
pit of try to compulsively enter trades just for the sake of it, when a trade doesn’t
even exist. That’s precisely the reasons
the trading levels really help. Wait for
the price to be around the trade levels and then initiate a trade according
other ideas like momentum and price movements.NIFTY FUT now faces immediate hurdle again at 5960-65 levels and clearing that level will tend to attempt to 5990-600 barrier. On the downside again 5920-25 will act as a support buffer and trading below that will tend to retrace towards price points of 5890 odd zones.
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The short term are back to positive again as indicated above 5920 zones and will continue to hold so until NIFTY FUT holds above 5890 range. MIDTERM momentum indicators are now negative and will do so until NIFTY FUT holds below 5960 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 ---- 5870, 5830,5810
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