NIFTY FUT blasts pasts 6120, doing upside zones. What’s the big swing target above

NIFTY FUTURE- Review of 15^th  May

NIFTY FUT – Readers will recall that few days back even in the last trading session we had been harping on the point that 5990-6000 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 BEARS LAST STAND POINT of the day is 6035-40  levels and if it manages to trade above it will look for an upside bias. This was a long trading opportunity. Once it went above the level it was a once side up movement. We have been mentioning for few sessions a clear breakout above 6120 level. This was a second opportunity to go long in reversal above 6120 levels giving away near 130 points of total gains. Hope readers stuck to the trading strategy and capitalized on decent gains.

Today is one of those days that serve a reminder to stick to the trading plan and just follow it. Or a trading system if you have. As humans we may not be convinced so quickly that market trend can do a complete turn around. Yes this is a rare day. Our technical understanding and belief may not always allow us to do so, but most trend systems would had given a reversal and gave a clear trading signal.

We took two trades during the sessions and managed to come out with flying colors. Our Risky Traders had a huge gain as an unidirectional move throughout the day.Also we cornered a massive 300 points of gains in BanknNifty futures with our trading signals

NIFTY FUT closed above the 6160 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 – 16^th  May Trading Guide

NIFTY FUT blasted off the crucial trading swing target of 6120 , just kissing the 6170 trading levels and closing a shade below it. We had been telling that  6120 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 sessions back BEARS looked in good control and I bet many analysts would had been shorting all the way. Despite that we had mentioned that 5990-6000 is a crucial swing support and until we sustain below that level we are in for  a surprise ( Read a pullback opportunity with low risks). We had witnessed a near 150  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 6150-6155 trading levels in case it sustains above that level it will be headed for 6200-6210 trading zones. This will be the next immediate hurdle and a clear of that can propel NIFTY to 6180 levels and higher.

Next major swing target remains at 6220 levels now. If that is cleared on a sustained basis we may be headed for 6350 levels swing wise. But first lets raise a toast for this massive low risk pull back opportunity from the 5990-6000 zones or above 6035 zones for safe traders. This has yielded massive gains in a single session.

On the downside it will be important for NIFTY FUT to sustain above 6120-6125 levels for the break out of yesterday to hold and trading below that will lead to test of  6095-6100 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 ----- 6190-6195  sustaining above which it will target 6220,6250.
POWERTRADE TREND DECIDER OF THE DAY ------- 6160-6165
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 6120-6125
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 6090,6025