NIFTY FUT manages to hang around the 6000 zone. Will tomorrow be the make or break day for this swing.

NIFTY FUTURE- Review of 14^th  May

NIFTY FUT - Started the day on a negative note with despite positive global cues.  At the same time NIFTY FUT managed to find support all over again on 5990-6000 level as we had mentioned yesterday.
We have been strongly advising that until NIFTY FUT trades within a range look for pull back trades in this zone and outside the range look for a break out trade. Market allowed a pullback trade opportunity today on both sides as in the morning markets opened up and failed to sustain above our TREND DECIDER of the day. Once markets breached the 5990 levels on the downside but only managed to touch 5980. When that level was not broken, markets pulled back again to top out just near TREND DECIDER again and went to Bears Last Stand Point of the Day 6030-6035 levels. 
As market couldn’t sustain 6030-35 levels its fell back to the TREND DECIDER level and just managed a close above it. Whats the trading mantra for the coming sessions?
 
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NIFTY FUTURE – 15^th May  Trading Guide

NIFTY FUT displayed a range bound move failing to break away on either side of the trading range, this at the same time increases the probability of a strong move on either side. Markets have not found any trigger to take it beyond the trading range.
NIFTY Fut now again faces immediate hurdle at the 6035-40  zone and above that can go onto again hit the hurdle zone of 6060-65 levels. Expect a strong momentum move in case markets are able to clear that range on the upside to hit the target zones of 6090 levels and ahead.
On the downside if this time 5980 is cracked  we may see a good move to test the swing support levels of 5955 range on the downside and expect some supply to come in at that zone.
Will tomorrow be a make or break day for the markets? We would like to believe so. Watch out for the trading zones and look for a clear break out trade outside our trading ranges.

The short term momentum is now neutral and will be negative once NIFTY FUT moves below 5980 levels.  The midterm momentum indicators remain positive until NIFTY FUT holds above 5960 levels.


As for trading today the levels are as follows:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 6035-40   sustaining above which it will target 6060,6090
POWERTRADE TREND DECIDER OF THE DAY -------6000-6005
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5970-5975
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5930,5904