NIFTY FUTURE- Review of 8th Mar
NIFTY
FUT – For Friday we had clearly
discussed that until NIFTY FUT manages to hold above 5860 levels , BULLS are to
be in control and it was advisable to look for pull back long trades.
For
the upside we wrote that NIFTY FUT has a swing hurdle zone at 5915 levels and
above that targets given were on 5940 and 5975 levels.
NIFTY
FUT in the morning managed to hold and trade above the 5915 levels our BEARS
LAST STAND point of the day and it went on to give another strong swing day
giving away good gains for both intra day traders and swing traders as well.
The
purpose of publishing the trading references a trading guideline is two fold.
1. We analyze the markets and plan for
the trades without any bias or sentiments just based on price levels, swing
momentums, this helps us form an idea and to document it. 2. Intraday traders
were genuinally lacking a definite guide and reference to develop their trading
plan and approach. The trading levels and other price or chart information
shared helps to streamline one plan and keep a disciplined approach to trading.
This
is to help people develop as traders. Understandably at times some traders gets into wrong positions and everyone
commits mistakes but to overcome them is to write down where we went wrong and
see the factors or decisions that we overlooked. This will help to continually
improve and that is the objective.
Our
swing traders had a very good trade for the past few months when we correctly
got the top write at 6120 and asked traders to take swing shorts near that
zone. Though jan feb was not a fantastic
intraday trading month as volatility was abysmally low.
At
that time we had written that the historical Weekly ATR is at a all time low
and we will see increased movements sooner than later ( remember our post on
where we said NIFTY weekly ATR Is now 136).
Then
we mentioned that 5650 is a strong swing support and even after the budget day
crash we mentioned that as well. From there on we have moved on to a gains of
near 350 points , this time around it was a merryride for both intraday traders
and swing traders.
Any
mid term swing trader who has been trading with a systematic approach would
have capitalized this move both ways. The whole point of driving this is stick
to your rules and trading plan and markets will give opportunity sooner than
later.
Now
that NIFTY is near 5975 our swing target levels, where can it go next? Also some
of our investment long positions are now sitting in near 5% plus gains. Should
we exit them? Read out more on this at our analysis for tomorrow.
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NIFTY FUT traders went
long above 5915 and gains massive gains all the way till 5970 just as per our
blog. Banknifty fut traders too has a blast going long in the opening session
above 12104 and booking gains all the way till 12240 odd levels. 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
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NIFTY
FUTURE – 11th Mar Trading Guide
NIFTY Fut
has now pulled back near 350 odd point form the lows without a major pause,
while all this sounds good we need to again strap up and plan for the
possibilities at these levels. Just the
other day we mentioned that on a swing basis NIFTY FUT If manages to take out
5915 has the potential to go on and test 5975 levels. This was exactly done on
Friday. Now we also mentioned that 5975-6000 is a congestion zone and this will
form as the next strong hurdle.Both from an intraday and swing point of view this will be the next levels to watch out for Only if NIFTY FUT manages to take out that level it has a very high potential to test the highs of 6120 on a swing basis and probably take that out too.
From an intraday point of view NIFTY FUT if managed to trade above 6000 levels can go on to target 6040-50 zones where we may see a pause.
On the downside NIFTY FUt will find some support in all dips to 5940 levels and only a breach of that can pull it down to test lower levels. Down side targets below 5940 emerge at 5910 and 5870 odd levels.
Many of us who bought equity positions near 5650 odd levels today are standing in massive gains and some of the index stocks have moved up anywhere from 5-7% from the lows in a very short span. So it a time to book gains? Well it depends on a few factors, one what percentage of your equity investment capital were you invested in stocks, if it is anywhere higher than 30% , then you should.
But if its 30% of your capital since the buying price was low and today the stops are far away we may want to hold these trades and see how far can we go on long term swing basis. Remember this is for stock investment positions that we advised people.
For futures or swing trading positions, we would sit, lock in the gains out here and wait for 6000 to be taken out and re enter above it or look for dips.
Swing indicator wise the short term momentum indicator remains positive above 5940 levels. . The mid term momentum indicators are now positive as well and will continue to hold so until NIFTY FUT trades above 5860 zones.
Trading levels for the day:
POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5995-6000 sustaining above which it will target 6025,6040,6090
POWERTRADE TREND DECIDER OF THE DAY ------- 5970-75
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5935-40
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5910,5880
