1st June: Closing above 4960 to trigger a fresh uptrend

• Nifty Futures closed at 4924 which is just 9 points lower than its previous close of 4933.
• Nifty Futures again opened with downward price gap of 33 points at 4900 and formed intraday low at 4880.
• Nifty Futures was successful to stay above the crucial support of 4870 keeping some hopes for bulls to regain upward momentum.
• Though Nifty Futures closed above 4900 the upward breakout is placed at 4960 and a fresh uptrend may be seen thereafter.
• The level of 4870 can be treated a stop loss on closing basis with a positional target of 5100 in next few trading sessions..
• Previous weekly close was seen at 4919 and current weekly close above this level will keep the weekly trend intact for upward momentum.
• Timing cycle day is showing 5th - 6th June for indicating the trend direction or trend reversal.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.
• The intraday resistance levels for Nifty Futures are placed at 4930 & 4960 and support levels are placed at 4900 & 4870 respectively.