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NIFTY FUTURE- Review of 21^st  Mar

NIFTY FUT – Another stunning day of move is a row. The last few weeks have been a welcome blessing for intra day traders who has been using trend based technical analysis or also simply using our accurate price point analysis.
Few sessions back we wrote that  5860 was the market mid term trend decider levels and swing traders would have good potential trading shorts with downside targets upto 5650 levels.
Today markets marked that low exactly around 5650 levels. Giving away near 200 points gains in a few trading sessions.
From an intraday point of view we mentioned that the BEARS LAST STAND point of the day as 5760 levels. Markets failed to clear that level in a sustained basis and marked a top just above that. But once it failed to clear that zone on a sustained basis it was clear that markets may be headed downwards. The last remaining cog was to break through the 5700 levels and once that was broken on a second attempt the downside was pretty apparent.
This kind of volatility offers a lot of trading opportunities even on an intraday basis.  We took a short in the opening session that went well. Then got caught in the long breakout which was a failed trade but the clincher was the short trade taken below 5735 then that yielded massive gains. This kind of opportunity is quite different from the months of Jan  and Feb when we had no trading opportunities during many days

 NIFTY FUT just went on and closed  at a critical juncture just above our swing support zones. How are markets poised to trade at these levels. Read our analysis for the next session

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NIFTY FUTURE –22^nd   Mar  Trading Guide

NIFTY FUT closed at a crucial support levels, these are key support levels  near 5600-5630 zones . Markets closed a shade above that. At this stage now the risk reward ratio is skewed against favour of shorts. We had a good downswing from the higher levels.
 From an intraday perspective NIFTY FUT will face immediate hurdle now at 5700 levels and trading above that can scale up to 5730 odd levels. On the  downside there is a swing support plus an intraday support zones near 5630-5600 levels. Intraday traders may look to take low risk pull back trades above 5670 odd levels. While the market momentum is still in favor of shorts it will be prudent to watch out how markets trade at these levels.

A break of 5600 zones can mean a downside potential of another 150 odd points in the index future , where we can see  a test of next swing support levels all the way upto 5450 levels.

Swing indicator wise the short term momentum indicator are  trading negative and will continue to hold so until it trades below 5700  levels. The mid term momentum indicator are also negative now and will hold so until NIFTY FUT trades below 5765 levels

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5700-05  sustaining above which it will target 5730,5755
POWERTRADE TREND DECIDER OF THE DAY ------- 5665-70
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5630-35
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5605,5475