NIFTY FUT knocking back at 5600 levels, what’s the next key trade?

 NIFTY FUTURE – 12^th  April  Trading Guide

NIFTY FUT today found some critical support at 5550 odd trading zones, readers will recall we had mentioned before the levels were broken that the support buffer was at 5530 levels, today NIFTY Fut created a higher low just above that level, now even swing wise this will form as a key support level to watch out.

A move above the 5590-5600 trading zone can see a test pull back to 5630 odd trading levels. In case NIFTY FUT manages to move in a sustained way above 5630 level we can see a sharp pull back to higher levels coupled with some short covering as well.

In case NIFTY FUT clears 5660 levels it will be headed straight to the 5700 levels on the upside.  On the downside NIFTY FUT if fails to sustain near 5590 levels we can see a slide to 5560 odd zones, This will be a choppy zone to watch out, a break of that can see serious selling pressure this time confirming a lower top.

Trading strategy: Look to go long if NIFTY FUT holds above 5590-5600 or a break out long too above 5630 odd trading levels. In case we see in the morning session a failure to sustain that level, look to take a short trade to target 5560 odd trading levels.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5625-30  sustaining above which it will target 5655,5695
POWERTRADE TREND DECIDER OF THE DAY ------- 5590-5600
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5555-5560
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5535,5515