Market trading Strategy, at these levels. Where is the downside expected to be challenged

NIFTY FUTURE-  Market Review 5th April

NIFTY FUT-  A day where markets traded in an overall small range of 40 odd points, but a near perfect trading day with our trading levels.This is also one of the situations where despite a bearish move when in one hand you think that the trend may be arrested and we may be in it too late. On the other hand as a trader we just want to take a trade as pr our trade plan and trading levels.

We mentioned that the Trend decider of the  day is 5595 and  below that we mentioned that the BULLS Last stand point of the day is 5565.  NIFTY FUT opened gap down and just made a morning high there exactly at 5595 levels. Once the level was failed to clear it drifted downwards eventually during the course of the day NIFTY FUT made multiple bottoms in that levels  and managed to pull back every time from that range.

More importantly what makes this important is that we had discussed about these levels even before they were tested, technical analysts will appreciate that these were new levels something that was not tested in the near past.

Also lets see what did we write as our trading strategy : “Look to short below 5590 levels or in pull backs to 5630 odd trading levels and a long above that zone.”

Now where is NIFTY FUT headed in the coming sessions. Where is the downside thrust genuinely expected to be challenged. Read our review and analysis for the next session

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 NIFTY FUTURE – 6^TH April  Trading Guide

NIFTY FUT tested the support zones of 5560 levels and just managed to sustain it on a closing basis for the day, at the same time good thing for the bears is we witnessed a second consecutive close below the crucial 5600 levels.

Immediate trend decider will be the 5565-5560 trading levels and we have to watch out how markets play around at this level, that is whether it manages to hold on to these levels or break them instead.

In case markets break this level we can go on to test the next support levels of 5515-25 zones, also below that there is a support buffer likely to emerge at 5500 trading levels.

On the upside 5595-5600 will form as the immediate hurdle and only a sustained close above that can mean a sign of some upward retracement. Above that 5630 will remain as the crucial swing hurdle and a clear of that only will confirm an intermediate bottom. Until then all rise to that level will be shorted .

Trading strategy: Look to short in case NIFTY FUT trades and holds below 5560 or in pull backs to 5590-5600 zones. With stops and reversal above that level. On the downside risky traders may attempt a pull back longs  with stops below 5500 levels and shorts on close below that.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5595-5600   sustaining above which it will target 5630,5665
POWERTRADE TREND DECIDER OF THE DAY ------- 5560-65
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5515-20
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5500,5470