13th June: 200 - EMA at 5160 is immediate resistance for Nifty Futuures

• Nifty Futures closed at 5126 which is 6 points lower than its previous close of 5053.
• Nifty Futures formed intraday low at 5022 immediately after opening but more than 118 points rally was seen in intraday above 5100..
• Nifty Futures is now approaching towards its 200-EMA at 5160 which is likely to0 provide a strong resistance..
• If Nifty Futures is able to surpass 5150 on closing basis then it will test 5200 mark immediately.
• Current low of 5020 is important level to watch as a support and violation of this level may see a testing of 4950 levels.
• A short term RSI on daily chart is still in buying mode but for long trading positions, the stop loss of 5020 is recommended.
• 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 5160 & 5200 and support levels are placed at 5070 & 5020 respectively.