NIFTY FUTURE- Review of 25th Mar
NIFTY FUT
– For Monday we discussed and mentioned
that 5700 is the key level to watch out for and markets will only be able to
clear it if NIFTY FUT manages to sustain above that level , else the downward
trend may persist.In the morning session , thanks to the gap up and strong global cues NIFTY FUT managed to open above 5700 zones. It did hold on there for quite some time and we too went long. There we lost 15-20 odd points in that trade.
But then when 5700 was breached it was confirmed that the upmove may not sustain, break of 5690 was pretty much of a confirmation as well. We went short below that zone and got massive gains all the way till 5640 odd levels. The pace of the downmove was a surprise and the fact that it gave no respect to the 5660 zones showed that market players are looking to short any opportunity.
On the other hand we also saw that for third day in a row despite strong downward momentum markets failed to break through the 5630 zones and it again got respected.
Today typically there were two trading chances once was a false move where a break out was not sustained and then a confirmed down move. Hope traders took one of those trades. Idea here is that we take the right trades based on analysis irrespective the results. Ground rule: stick to the rules
NIFTY FUT failed to clear the 5700 zones and now have closed again at the pivotal point of 5660 again.
Where is it poised to move in the next trading session. Let us collectively analyze the trading levels to watch out for
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NIFTY
FUTURE –26th Mar Trading Guide
NIFTY FUT
not only had a failed break out but also
at the same time closed below the crucial trading levels of 5660 zones. This was
also compounded by the fact that we had literally no support offered at 5660
levels.At the same time NIFTY FUT managed to close and hold on to the 5630 levels for the third consecutive session. Readers will appreciate that we noted this trading level long before it was actually tested.
Given that we had this kind of a close and a highly bearish daily candle it clearly shows that now it will need some real strong resolve from the BULLS to sustain that level in the coming sessions.
Trading wise on the downside 5630 will prove as the next key support and if that is broken NIFTY FUT will go onto test 5605 levels and lower upto 5570 trading zones.
On the upside NIFTY FUT will immediate hurdle at 5660 levels and trading above that can again go on to test 5690 zones. It will be resisted in every upmove until 5725 levels are cleared on a sustained basis.
So trading wise it is prudent to look for a short trade if it holds below 5660 or breaks 5630 and only risky traders can look for a low risk long pull back trades in case it manages to sustain and hold onto 5630 odd zones.
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 ------- 5660-65
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
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