15th June: Nifty Futures is likely to test support zone of 5000 - 4950

• Nifty Futures closed at 5054 which is 69 points lower than its previous close of 5123.
• For 3rd consecutive day Nifty Futures attempted to cross 5150 but was failed and closed near 5050 levels.
• Now the important support zone to watch is placed between 5000 - 4950.
• The level of 5100 will provide strong resistance if any intraday bounce back is seen.
• Previous weekly close is seen at 5059 and current weekly close above this level may keep upward momentum intact.
• The short term trend reversal is placed at 4900 which is 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.
• The intraday resistance levels for Nifty Futures are placed at 5120 & 5080 and support levels are placed at 5020 & 4960 respectively.