NIFTY FUT tests Critical Averages on the downside. How to trade it at these levels

NIFTY FUTURE- review of 29^th July and Update for 30^th July

NIFTY Fut today cracked through 5900 trading levels today closing at 5870 odd zones. What is important about this level is that this is exactly the 100 day moving average for Nifty Fut. If not for anything just another psychological level for the markets.

 On the downside a break of this level can lead to a test of 5845 on the downside and below that Nifty Fut can slide to 5810-15 levels where it might find some swing support and show signs of pull back and profit booking for shorts.

A crack of that level on swing basis can lead to another leg of downside move.

On the upside immediate hurdle lies at 5900-05 levels and only clearing that we can see a positive bias in the markets. Until it trades below it expect bears to be in control and short on rise will be a preferred option.

Trading above 5905 NIFTY fut can head to 5930-35 levels on the upside where it will face severe resistance and may not just cross in a jiffy. Swing bulls will only be back above that levels.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5930-35  sustaining above which it will target 5965,6005
POWERTRADE TREND DECIDER OF THE DAY ------- 5900-05
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5870-75
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5845,5810