6th June: Sideways movement seen in Nifty Futures with crucial support at 4800

• Nifty Futures closed at 4846 which is just 5 points higher than its previous close of 4841.
• After opening, Nifty Futures moved upwards but was not able to breach 4880 and intraday low was seen at 4822.
• Till Nifty Futures trades below 4920, short term trend will remain in downward direction with a risk of extending the losses.
• The crucial support is placed at 4800 below which fresh downtrend may be triggered in Nifty Futures.
• Strong bearish candle of previous week is having negative impact on charts and will be visible once Nifty Futures breaches 4800 mark .
• Trading long positions are recommended only if Nifty futures closes above 4920 levels.
• The Timing cycle day is showing 5th - 6th June for indicating the trend direction or trend reversal.
• 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 4880 & 4920 and support levels are placed at 4800 & 4750 respectively.