12th June: Immediate support zone for Nifty Futures between 5000 - 4950

• Nifty Futures closed at 5053 which is 6 points lower than its previous close of 5059.
• Nifty Futures opened at 5101 and formed intraday high at 5124 but correction pushed it 90 points lower till 5035.
• Nifty Futures is expected to test the initial support of 5000and intraday bounce back may be seen in the range of 5060-5080.
• The strong support zone is placed in the range of 5000 - 4950 where Nifty Futures is likely t reverse the trend in upward direction.
• The current short term trend of Nifty Futures will stay in upward direction till it trades above 4780.
• Nifty Futures is expected to remain in the zone of 5150 - 4900 for some m ore days, in a consolidation state.
• 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 5080 & 5130 and support levels are placed at 5000 & 4950 respectively.