Where is the next for the market? Accurate market analysis & Projection with Price point analysis

NIFTY FUTURE- Review of 22^nd  Mar

NIFTY FUT – What we witnessed on Friday was a typical market reaction when a strong trend ( bearish in this case) runs into a sold long term support zone. NIFTY Fut witnessed a doji close typically defining the indecisiveness at this stage and trading levels.
For Friday we had clearly mentioned that 5670 was the TREND DECIDER and 5635 was the BULLS LAST STAND point, this was also supported by the fact that NIFTY FUT has strong swing supports at this zone, which our readers were well aware off.
How to have traded this level? In the morning session Once NIFTY FUT moved below 56700 that was one trading opportunity and low made in that trade was about 5641 and proved a decent  trading opportunity, marking a low just above our swing support levels.
NIFTY FUT found support there and managed to pull back in a sharp manner all the way to 5700 levels.  Again check out the accuracy of our levels. NIFTY FUT made a high at 5707 and our BEARS LAST STAND point was identified at 5705, exactly where the market rally paused.  All through simple price point analysis.
NIFTY FUT failed to clear the 5700 zones and now have closed again at the pivotal point of 5660.
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 –25^th    Mar  Trading Guide

NIFTY FUT closed at a swing pivotal point of 5660. This is a critical level to watch out for as markets made an exact bottom at our swing support levels. And have managed to respect that on a closing basis on daily charts. Readers will recall that we had mentioned that it was a prudent point to close shorts and look for shorts in break down of 5600 levels now only. This was applicable to swing traders.
Also another point to note is that NIFTY FUT now marked an identical bottom on daily charts for two consecutive days.
Let us also review the option data here, this will hold special importance as this week is expiry and In such situations options accumulation data lead to good trading clues of the broader range of the market in mid term.

NIFTY Options chart for 22-Mar

As per the options data , we have the highest PE accumulation at 5700  and 5600 levels simultaneously. This kind of support the fact that a close below 5600 may be unlikely from an options point of view.
This is also same as our support levels of 5600-5630 which we highlighted from a long time
On the upside NIFTY FUT has significant CE accumulation at 5800 , 5900 and max at 6000 levels.  So that levels on the upside is where the market highs may be capped from this series point of view keeping options analysis in mind.

On an intraday basis now, NIFTY FUT will again face immediate resistance at 5690-5700 levels . clearing that NIFTY FUT will try to attempt 5725 and 745 levels.
The 5660 zones will form as the TREND DECIDER of the day and we have to watch out in the opening session as to which side of this zone does market tend to trade.
In case it manages to sustain below this zone it will again try and attempt the trading levels of 5635 and that is where it will encounter the swing support levels. A breach of that can take NIFTY FUT to test 5600 . This is a support zone and we should just be a tad careful of movement and pull backs just like Friday. A decisive swing short will be confirmed at the break of 5600 levels.
Also a thing to note is that we have two trading holidays during this phase and hence stay careful on low volumes or lack lusture movements

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 ----- 5695-5700  sustaining above which it will target 5730,5755
POWERTRADE TREND DECIDER OF THE DAY ------- 5655-60
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