NIFTY Pulls back exactly from our Support zones. Didn’t we hear the analysts say short few days back?

NIFTY FUTURE- Review of 16^th Apr

NIFTY FUT – Readers will recall that few days back even in the last trading session we had been harping on the point that 5500 is a support and supply zones and until it trades below it there is a good low risk pull back opportunity.
For today we had mentioned that the TREND DECIDER of the day is 5560 levels and if it manages to trade above it will look for an upside bias.
This was a long trading opportunity. We also mentioned that one can take pull back trades within the 5500-5600 zone and reversal break out trades outside the zone. This was a second opportunity to go long in reversal above 5600 levels giving away near 100 points of total gains. Hope readers stuck to the trading strategy and capitalized on decent gains.
We too took two trades during the sessions and managed to come out with flying colors.

NIFTY FUT closed near the 5700 odd trading levels and closed a shade below it. What is the next crucial trading level to watch out for. Read our analysis for the next session.
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NIFTY FUTURE – 17^th  April  Trading Guide

NIFTY FUT closed near the crucial trading levels of 5700, just kissing the 5700 trading levels and closing a shade below it. We had been telling that  5630 is the crucial TREND DECIDER on a swing basis. We also mentioned we will witness a good short covering once that level is breached. Today we saw that momentum and that was pretty much the last resort of the BEARS which was taken out.

Just a few sessions back BEARS looked in good control and I bet many analysts would had been shouting shorts all the way. Despite that we had mentioned that 5500 is a crucial swing support and until we sustain below that level we are in for  a surprise ( Read a pull back opportunity with low risks). We had witnessed a near 200 points pull back from those levels. Is it time to cool the heels now? Well that will depend on the next trading level.

Firstly it will be important for NIFTY FUT to sustain and trade above 5690-5700 trading levels in case it sustains above that level it will be headed for 5725-30 trading zones. This will be the next immediate hurdle and a clear of that can propel NIFTY to 5765 levels and higher. Long time readers will recall 5765 was a level we dealt with for quite some time in the last series.

On the downside it will be important for NIFTY FUT to sustain above 5660 levels for the break out of yesterday to hold and trading below that will lead to test of  5630 levels , which was the immediate break out level in the last session.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5725-30  sustaining above which it will target 5765,5790
POWERTRADE TREND DECIDER OF THE DAY ------- 5690-5700
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5660-65
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5630,5605