NIFTY hovers around the same top. Where is it headed? What are the key trading levels ahead.

NIFTY FUTURE- Review of 23^rd  Apr

NIFTY FUT –  traded in a choppy manner for the good part of the day and gave a pretty listless day after quite some time.  Infact we got hit in the trailing stop in our trade after quite a few sessions.
NIFTY FUT made identical lows and highs in the past two trading sessions.  We had mentioned that the TREND DECIDER of the day is 5825-30 zones , due to the choppy nature we witnessed that this trading level being tested on quite a few occasions but failed to clear out that until the closing sessions.
On the downside we mentioned that the BULLS LAST stand point of the day as 5790, NIFTY FUT failed to breach this trading level and hence witnessed a pull back to give  a strong close eventually.
Possibly on hindsight the pull back was trade we would had wanted to take.

NIFTY FUT closed strong just above the trading zone of 5830 trading levels, what are the next critical trading levels to watch out for. Where is it headed next. Read our review for the next trading session.



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NIFTY FUTURE – 25^th    April  Trading Guide

NIFTY FUT  closed strong just above the 5835 trading levels.  We also witnessed identical bottom be made just above the 5790 trading levels. This will form as the immediate intraday as well as the swing trading level.

Also 5825 will continue to be the swing decider trading level, If market trades above this zone it will continue to trade with a positive bias But on a swing basis now the trading levels of 5840-65 will form as a key swing hurdle . So any long created on break out need to be a bit cautious. At this same time a sustained move above 5870 will ensure that NIFTY FUT can go onto test the swing trading levels of 5930 and 5980 on the upside in coming sessions.

On the downside this time a breach of 5790 can mean lot of long position un winding. And some profit booking to test the trading levels of 5765 and 5730 zones.

Trading strategy: Look for a pull back trade  until nifty fut holds above 5790 trading levels and a stop and reversal below that zone. On the upside traders may initiate long positions above 5830 trading levels. Safe traders or swing traders can look for  a clear break out above 5870 odd trading zones.

Trading levels for the day:                                                                                                   

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5865-70 sustaining above which it will target 5890,5920
POWERTRADE TREND DECIDER OF THE DAY ------- 5825-30
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5790-5800
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5765,5735