NIFTY holds onto 5900 levels. Exact top at our swing levels

NIFTY FUTURE- Review of 29^th  Apr

NIFTY FUT –  managed to hold on to the 5900 trading levels for yet another session. Infact exact top was again made at our swing trade levels of 5930 odd.
This is the trading level that market has been failing to clear for the past few sessions. Apologies folks had not been able to update the blog for a few days. Our Normal trading services had been on though.
We had mentioned a few sessions back that 5890 on the downside and 5930-35 on the upside will hold the key for immediate trading levels. This is the trading level that market has been trading within for the past few sessions.

We  have many a times advised that when markets are trading within a range it is prudent to take pull back trades within this range and look for a range break out trade outside the trade. We took a good pull back trade at 5902 levels and booked in gains at 5925 odd trading levels.

 NIFTY FUT closed just above 5900 trading levels. This level has been holding on for a few sessions. What is in store for the markets next. Read our analysis for the next session.

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NIFTY FUTURE – 30^th   April  Trading Guide

NIFTY FUT  traded within almost the same trading range closing at just above the 5900 trading levels. NIFTY FUT has traded within a 50 odd point trading range mostly for the past few trading sessions.

This range will have to be keenly watched for the upcoming session. A break out of this range will form the next part of the swing trade and determine the direction of the market for the rest of this series.

NIFTY FUT will again face immediate hurdle at 5930-35 odd trading levels again and clearing that level will ensure that NIFTY FUT will go onto to test the higher trading levels of 5960 odd and higher levels of 6000.

On the downside a breach of 5885 odd levels will ensure that this trading range is breached on the downside and NIFTY FUT can again go onto to test  the 5860 levels and lower Immediate trading per se 5910-15 will form as the TREND DECIDER and trading above that will trade with a positive bias.

Trading Strategy: Look for a break out trade above 5935, or a break down trade below 5885 zones. Risky traders can look to take pull back trades in case NIFTY FUT holds above 5910 odd trading levels.

Trading levels for the day:                                                                                                   

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5930-35 sustaining above which it will target 5970, 6000
POWERTRADE TREND DECIDER OF THE DAY -------5910-15
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5880-85
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5865, 5830