What’s in store in the market for April? Are you ready with the trading plan to have a successful month

NIFTY FUTURE- Market Analysis for 1s April and Month ahead

Firstly wish you all had a well-deserved break and a nice long weekend ahead.   NIFTY FUT – we had mentioned that the 5600-5630 is a strong supply zones on a swing basis, and offered a very low risk pull back trading strategy at those levels. On Thursday we witnessed exactly that when markets failed to breach 5600 and hold onto those levels, a strong pull back was seen on the charts and markets ended up closing at near 80 points gains from the lows.
Now that we have closed near 5680, what is in store ahead?  
Well first lets evaluate this on a swing basis and see how market is stacked up this month.  Swing wise support will continue to remain at 5600-30 zones and any dip there will make prudent sense to take low risk longs with reversal at the break of that level.  If markets manage to break that level we may see a test of 5450 levels on swing basis on the downside. On the upside critical swing hurdle remains at 5725 zones and markets need to at least clear and close above that level to ensure that the  mid term correction is done and we have a confirmed bottom, until that happens all rise will be resisted and short on rise can be a better strategy.
Above that on swing basis markets can go upto 5760 and clearing that can head all the way upto 5879-5900 zones.

On an intraday basis immediate hurdle comes at 5700 levels and a clear of that can lead to a test of 5725 levels . 5675 will form as the immediate swing decider and a break of that can mean bears will be more in control on an intraday basis. On the downside below 5675 we may again look to test the swing support levels of 5630 and lower.

Trading strategy wise look to take long positions in dips to if markets manage to hold above 5675 or a break out above 5700 levels,  or in sharp dips to 5630 odd levels.  Short positions in intraday basis can be taken if markets trade below 5675 on a sustained basis or in rise to 5750-60 levels. Both long at short positions if taken in extreme levels of 5630 (pull back long) or 5750 (pull back short) need to be also traded with a reversal trade at the stop levels.

Wish you all another successful trading month ahead, also we have completed the first three months of trading. Traders its time to sit back and review your individual trading plan and see how you have done and what needs to be corrected or improved. Write your rules and stick to it for the month

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5725-30  sustaining above which it will target 5755,5790
POWERTRADE TREND DECIDER OF THE DAY ------- 5675-80
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

Detailed analysis also posted at www.powertrades.blogspot.com