NIFTY FUTURE- Market
Review 4th April
NIFTY
FUT- We had mentioned that the Trend will be
downwards on an intraday basis if NIFTY FUT trades below 5660 levels. This
proved as an immediate trading opportunity when markets opened gap down and
just traded below that level. Opening high made at 5858. Look at the importance
of our level, once that high was not crossed it immediately confirmed the
continuation of the downtrend.
Once
that level was breached which was also our TREND DECIDER it went on to test the
trading levels of BULLS LAST STAND point at 5635 and once that was broken, It
meant may hem. Yesterday we discussed that whether the markets will be third
time lucky? We mentioned that once the levels of 5600 odd are tested, traders
should wait for a clear of 5630 at least to confirm a come back.Again look back
at the charts , after 5600 levels were tested the pull backs failed to clear
5630, high made was 5628. This ensured shorts are on cards either on break down
or pull backs. We did both with an average short price of 5650 levels and
reaping in massive gains make up more than the lost points for yesterday.
NIFTY
FUT closed below the crucial trading levels of 5600 marking the first close
below the 5600 levels . Where is markets headed next? Read our analysis for the
next session
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NIFTY FUTURE – 5TH
April Trading Guide
NIFTY
FUT closed below the crucial trading levels of 5600 and more importantly broke through
the 5630 trading support levels.Well this now confirms the short term down
trend in market as well. Two sessions back we marked that 5760 is the crucial
hurdle zone and if NIFTY FUT fails to clear that the downtrend will continue to
sustain. Markets now have corrected near 160 points from those levels.
Now
the previous support of 5630-35 will act as a crucial hurdle and only a
sustained close above it will confirm that markets have indeed created a bottom. On the flip side all pull
backs to that levels should be shorted and swing wise NIFTY FUT is now poised
to test the downside levels of 5460 in case the market trades and holds below 5600 in the coming
sessions.
Immediate
downside targets below 5590 emerges at 5560 zones and trading below that can
attempt the levels of 5500 as well.
On
the upside only if NFTY FUT manages to clear the 5630 trading levels will we
see a pull back to 5660 zones and higher.
Trading strategy: Look to short below 5590 levels or in pull backs to 5630 odd trading levels and a long above that zone.
Trading strategy: Look to short below 5590 levels or in pull backs to 5630 odd trading levels and a long above that zone.
Trading levels for the day:
POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5630-35 sustaining above which it will target 5660,5690
POWERTRADE TREND DECIDER OF THE DAY ------- 55595-6500
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5560-65
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5530,5505
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