NIFTY FUT dips below 5935, But manages a close there. What is in store.

NIFTY FUTURE- Review of 5^th June

NIFTY FUT – provided a difficult range bound day to trade but yet just managing to provide a few trading opportunities here and  there. Firstly lets review that for the past few sessions we had mentioned that 5935 is the crucial trading level to watch out for. Markets today opened just below that level and went to make a lower low around the above the swing trading levels of 5890. Which it managed to hold and provide a sharp pull back to 5935 trading levels.

Since this was the support zone to watch out for markets this time once trading below it found resistance there and again dipped on to touch 5900 levels. Today was a classic case of oscillating between to two key swing trading levels and the way it closed pretty much summed up the day.

The fact that we managed to hold on to 5935 on a closing basis holds critical meaning. How is it expected to trade tomorrow. Lets analyze.

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NIFTY FUTURE- 6^th Jun Trading Guide

NIFTY FUT tested the swing levels of 5890 on the downside and also at the same time made a high below the swing levels of 5965 and managed a close around 5935 trading levels which it has managed to hold on to on a closing basis.

Going forward in the coming session the trading level of 5920-65 will prove to be a choppy and in decisive zone where we don’t expect much action. Some direction will only emerge on the clear of this on either side.

On the upside this level of 5960-65 is a hurdle and a clear of that can lead to a test of 5990-6000 all over again. Similarly on the downside a break of 5920 levels will lead to a test of 5890 this time and a breach of that can make NIFTY test swing levels of 5855 levels. Which can be a decisive make or break zone for long term swing.

For the BULLS we may see some real momentum only if NIFTY FUT manages to surface above 6005 levels and that  may signal a reversal in trend.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5960-65  sustaining above which it will target 5990,6030
POWERTRADE TREND DECIDER OF THE DAY ------- 5920-25
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5890-95
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5860,5835