NIFTY FUT consolidates, Swing levels remain intact. Trading NIFTY at these levels.

NIFTY FUTURE- Review of 29^th May

NIFTY FUT –   Let us quickly recap two things that we discussed yesterday. 1. We mentioned that

“6050 levels will again form as the crucial support and in case NIFTY FUT breaches that level we can see a change in mid term trend too.”  Today NIFTY FUT marked a low just above that zone at 6050 and managed to pull back sharply to just hit the  TREND DECIDER of the day at 6090.

We may also note that the BULLS LAST Stand point discussed was at 6050-55. This is again exactly where low was marked in NIFTY FUT today. Is it magic. No its simple price point analysis of the trading levels.

We also mentioned that below 6090 NIFTY FUT will trade in a lack lusture manner this is exactly what happened again when NIFTY FUT moved below 6090 trading levels. How did we trade the day.

NIFTY FUt consolidated within the trading range and managed to hold on to the support levels  and at the same time failed to cross the swing hurdles. How to trade NIFTY FUT from these levels. Let us analyze in our trading session for tomorrow.

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NIFTY FUTURE- 30^th   May Trading Guide

NIFTY FUT  closed at a crucial trading levels of 6085 , this is pretty much trading within the range created in the previous session.  In fact NIFTY FUT also made identical lows for the past two trading session.

Based on that 6050-55 will form as the  crucial support zone again and trading below that level now may lead to a test and break of 6030 to hit lower target zones of 5990-6000 trading levels.

On the upside 6085-90 will form as the form as the TREND Decider again and we can see a bullish nature emerging once NIFTY FUT manages to trade above this range. Crucial swing wise break out will emerge once NIFTY FUT manages to trade above 6115-6120 trading levels. Safe trading looking to initiate longs may wait for a clear of this trading level.

IF NIFTY manages to clear this level, then we may see more traction on the upside trading levels. The next hurdle above this level lies at 6150 trading levels and if it manages to clear that then we can see a straight dash to 6200  6220 trading zones on the upside.

Since the trading range remains the same, more or less the trading levels too remain intact.

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Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6115-6120  sustaining above which it will target 6155,6198
POWERTRADE TREND DECIDER OF THE DAY ------- 6085-90
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 6050-55
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 6030,5990