11th June: Strong Resistance Zone for Nifty Futures 5100 - 5150

• Nifty Futures closed at 5059 which is 30 points higher than its previous close of 5029.
• Nifty Futures managed to close at 5060 and is now heading towards the positional target of 5100 mark.
• Profit booking is recommended in the zone of 5100 - 5150 which is likely to provide strong resistance as per chartical indication.
• A strong Bullish candle is seen on weekly chart engulfing previous 3 weeks indicating short term trend reversal in the market.
• On the downside, 5000 - 4950 is a strong support zone if any corrective trend is seen.
• Short term trend of Nifty Futures is expected to remain in upward direction till it trades above the level of 4870.
• Next timing cycle day analysis is showing 18th June as trend direction or trend reversal day.
• 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 5100 & 5150 and support levels are placed at 5030 & 4980 respectively.