21st June: Important levels for Nifty Futures 5150(Breakout) and 5020(Breakdown) CL

• Nifty Futures closed at 5122 which is just 11 points higher than its previous close of 5111.
• For 3rd consecutive day Nifty Futures closed in positive territory but yet to breach 5150.
• If Nifty Futures is able to surpass the level of 5150 convincingly then next resistance is placed at 5235 level.
• The immediate support for Nifty Futures is placed at 5080 and crucial support is at 5020 below which the uptrend may fizzle out.
• Previous weekly close was also seen near 5150 hence Nifty Futures needs to surpass this level for continuing the positive movement.
• But if the level of 5020 is breached then next support is placed at 4960 levels.
• The short term trend reversal is seen on timing cycle day on 18th June with a target near 4950 level and to avoid this Nifty futures needs to surpass 5200 level.
• 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 5150 & 5200 and support levels are placed at 5080 & 5020 respectively.