27th June: Nifty Futures trading range of 5200 - 5050 till expiry

• Nifty Futures closed at 5126 which is 17 points higher than its previous close of 5109.
• Nifty Futures traded in a small range of 50 points between 5140 - 5090 throughout the day with lower trading volumes.
• For last 4 consecutive trading days the level of 5090 is providing support to Nifty Futures and is now important support level.
• If Nifty Futures breaches 5090 then next support is placed at 5020 which is also a trend reversal level.
• If any intraday bounce back is seen the level of 5160 may provide strong resistance..
• The upward breakout for Nifty Futures is placed at 5200 and after that it is expected to cross 5300 levels.
• The timing cycle is indicating upward breakout of 5150 on weekly charts and strong momentum may be seen till it holds the level of 5020.
• 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 5090 & 5020 respectively.