14th June: Nifty Futures to stay in a range bound movement between 5100 - 5000

• Nifty Futures closed at 5123 which is just 3 points lower than its previous close of 5126.
• Nifty Futures formed intraday high at 5145 and was not able to breach the crucial resistance level of 5150 through out the day.
• Now trading below 5100 may see slide of around 50 points where the level of 5050 may be tested in intraday.
• On positional basis the support zone is placed between 5000 - 4950 from where fresh rally may be seen.
• For next 2-3 trading sessions Nifty Futures may exhibit range bound movement between 5100 - 5000.
• The short term trend reversal level is revised to 4900 which is also a 62% retracement level.
• 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.