NIFTY FUT cracks 6090. Pre analyze market movements with price point analysis

NIFTY FUTURE- Review of 23^rd May

NIFTY FUT – A good unidirectional trending day, albeit on the short side. Yesterday we had mentioned that 6080-6090 is a good swing support levels and advised traders to try long above it and go short below that zone. Markets exactly marked an opening below that level  and never managed to cross that level for the rest of the day. Such was the importance of this trading level. Fortunately for our readers they were well aware of this even before this move happened.

 Today market open below yesterday’s low of 6081 with a open equal to high and the market fell from that level and  did with a amazing consistency.. As opening was below 6080 level as BULL LAST STAND POINT OF THE DAY this opened up downside targets of 6060 and lower levels as well.

This was the trade we took below 6060 levels for downside targets of 6030 as per our trading levels.

As market went below the 6000 level which meant the market has a lower range as few days back we have mentioned that 6000-5990 as the support level breaking of that  move the market to breach to 5950-5955. Look at the market reaction once 6030 and then 5990 was cracked, all our downside targets were done. Our client again went short below 5990 and reached a target of 5960 level were they exited. Look at the charts NIFTY low made exactly there at 5950.

Again dear friends this is not a rocket science but simple price point analysis considering multiple trading swings and range in view..
How are the markets expected to perform in the coming sessions, what are the critical support levels to watch out in this zone. Read our detailed analysis for the next session

Folks who love systematic trading can follow our Automated Stock Calls posted live at our Facebook page : www.facebook.com/powertrade.trading

Time your trades with perfection and high accuracy ? Trade with the specialists of the index. Check out our

Are you looking for complete guided trading without any hassle?.. Are you still worried about your trade entries? Are you missing on these turning points entries? How about looking at our points guaranteed services. …... Where to take the next trade? Did you catch the move in the right time?.... Are you still guessing where to trade? Subscribe to our premium calls and leave your trade entry and exit worries to us. 

NIFTY FUTURE-25^th   May Trading Guide

NIFTY FUT firstly truly surprised with the pace of the correction, while we were prepared to go short below 6090 and in fact did take two trades both working great we were at the same time little surprised with the pace and the range of correction. Historically correction though has higher paced many times than upmoves.

Coming back to trading levels. The low marked today is extremely critical. This is crucial retracements levels of the entire upswing.  A break of this  may be 5930, could mean further downside  on swing basis to test levels of 5860.

On the upside immediate hurdle comes at  5990-6000 and strong swing hurdle now emerges at 6025-30 zones. All rise to that levels will be countered and a clear of that levels will again mean BULLS are back.

This is an interesting scenario trading wise where long term momentum is still intact on the upside and at the same time short term and medium term momentum is downwards biased.  Usually personally we prefer low risk pull trades and reversal in the direction of the trend if that fails.

In view of that it will be an interesting pull back trade to take with stops around 5930 and reversal below that zone. Adding up only if 6030 is cleared though. Lets see how that trade set up works out.

Although for intraday trade perspective advice to traders is to strictly follow the daily trading levels.

Avail automated trading signals for just 2000 INR for all subscriptions made before 31st May 2013

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5990-6000   sustaining above which it will target 6030,6060
POWERTRADE TREND DECIDER OF THE DAY ------- 5950-5960
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5930-5925
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5890,5870