1st August: Profit booking recommended in the range of 5270 - 5310 in Nifty Futures

• Nifty Futures closed at 5241 which is 24 points higher than its previous close of 5217.
• Nifty Futures opened higher near 4240 and corrected in 1st half but bounced back in the later part recovering all its intraday losses.
•  Nifty Futures is now expected to continue the current upward momentum and likely to test the initial resistance level of 5270 
• The falling trend line connecting the high of 5635 and 5364 is showing the resistance near 5310 hence profit is recommended in this zone.   
• Immediate support is seen near the level of 5170 for Nifty Futures and below that crucial support is placed at the level of 5100.
• The current uptrend starting from 5040 is supported with higher trading volumes suggesting strength in the current rally.
• The short term trend reversal level of Nifty Futures is placed at 5300 above which the trend would turn in positive direction. 
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 4990 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5270 & 5310 and support levels are placed at 5200 & 5170 respectively.

31st July: Nifty Futures approaching the immediate resistance of 5270

• Nifty Futures closed at 5217 which is 93 points higher than its previous close of 5124.
• Nifty Futures opened and traded above 5150 throughout the day and formed intraday high at 5222.
•  Nifty futures has broken the falling channel on daily charts and surpassed 5200 mark showing upward momentum.
• After closing above 5200 mark Nifty Futures is now approaching the immediate resistance level of 5270.   
• On the higher side the zone of 5270 - 5300 will provide a strong resistance hence profit booking is recommended in this zone.
• On the downside range of 5150 - 5100 is a strong support zone which is likely to halt any corrective trend if seen in the market.
• The short term RSI on daily charts has cut the trigger line in upward direction suggesting continuation of uptrend in market. 
• The short term trend reversal level of Nifty Futures is placed at 5300 above which the trend would turn in positive direction. 
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 4990 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5250 & 5300 and support levels are placed at 5180 & 5120 respectively.

30th July: 3rd Consecutive negative weekly close in Nifty Futures

• Nifty Futures closed at 5124 which is 81 points higher than its previous close of 5043.
• After a sharp fall on previous day Nifty Futures recovered the losses and closed above 5100.
•  Nifty Futures has established bearish trend forming lower top and lower bottom for past 3 weeks and still the upward reversal is not seen on the charts.
• Immediate resistance for Nifty Futures is placed at 5200 but it needs to surpass 5275 mark for showing an upward breakout and fresh rally in the market.  
• 3rd consecutive negative weekly close was seen in Nifty Futures with a loss of 92 points week on week basis indicating absence of buying on weekly chart.
• On the downside the 62% retracement and crucial support level is placed at 4990 below which intermediate trend reversal will be seen.
• The short term trend reversal level of Nifty Futures is placed at 5300 above which the trend would turn in positive direction.
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 4990 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5170 & 5200 and support levels are placed at 5100 & 5050 respectively.
• Among the sectoral indices, buying was seen in Metal and FMCG sector stocks where as selling was witnessed in Realty and Capital Goods sector stocks.

27th July: 4990 is Trend Reversal and Crucial Support for Nifty Futures

• Nifty Futures closed at 5043 which is 70 points below than its previous close of 5113.
• Nifty Futures opened at 5124 which was the days’ high and panic selling was observed throughout the day forming intraday low at 5034.
• Nifty Futures is consistently forming lower top - lower bottom and lost 330 points from the high of 5364 .
• The 62% retracement level and crucial support of entire uptrend from the low of 4760 to the high of 5364 is placed at 4990.  
• Nifty Futures needs to maintain the support of 4990 and downward breach of 4990 will result in reversing the trend in downward direction.
• On the daily chart, a ‘Falling Channel’ structure is seen where 5120 - 5170 is a strong resistance zone.
• The short term trend reversal level of Nifty Futures  is placed at  5300 above which the trend would turn in positive direction.
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 4990 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5080 & 5120 and support levels are placed at 5040 & 4990 respectively.

26th July: Nifty Futures needs to surpass 5200 for reversing the current downtrend

• Nifty Futures closed at 5113 which is 16 points above than its previous close of 5316.
• Nifty Futures dipped below 5100 and formed intraday low at 5078 but the closing was seen above 5100 mark.
• The important resistance is placed near 5200 where the 2nd downward price gap is  also coinciding on daily chart considering the current trend .
• Nifty Futures needs to surpass 5200 mark for reversing the current downtrend started from 5350 which has consumed past 11 trading sessions.  
• On the downside, 5100 - 5050 is a strong support zone which is likely to be maintained if any correction is seen.
• The short term RSI on daily chart is slowly entering in oversold territory on daily charts but yet to generate a buy signal.
• The short term trend reversal level of Nifty Futures  is placed at  5300 above which the trend would turn in positive direction.
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 4990 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5160 & 5200 and support levels are placed at 5090 & 5050 respectively.

19th July: Corrective bounce may face resistance near 5260 - 5280

• Nifty Futures closed at 5224 which is 25 point higher than its previous close of 5199.
• Nifty Futures opened above 5200 but immediately fell down to form a fresh low at 5177 and 60 points intraday uptrend was seen surpassing 5230 mark.
• The 200 days EMA of Nifty Futures near 5170 provided a strong support where intraday rally was seen due to fresh buying as well as short covering.
• Now the immediate resistance zone to watch is placed between 5260 - 5280 and Nifty Futures needs to surpass this range for generating the positive momentum.  
• The level of 5190 is still a trend deciding level as closing below this level may trigger a sharp sell off below 5100 mark.
• The price gap of 32 points seen on daily chart between 5312 - 5280 is a strong hurdle for Nifty Futures and only after surpassing 5312 strength will be seen in the rally.
• The short term trend will remain in upward direction till the time Nifty Futures trades above 5090 which is crucial level to watch.
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5000 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5260 & 5300 and support levels are placed at 5180 & 5135 respectively.

16th July: Nifty Futures needs to close above 5320 for resuming uptrend

• Nifty Futures closed at 5240 which is 11 point lower than its previous close of 5251.
• On daily chart from last 2 trading sessions Nifty Futures is trading below 5300 showing absence of fresh buying.
• Double bottom is seen at 5220 and crucial support is placed at 5190 considering the short term trend of Nifty Futures.  
• A downward price gap of 32 points is still visible between 5312 and 5280 providing a strong resistance to Nifty Futures.
• Hence Nifty Futures needs to close above the level of 5320 for resuming uptrend and to come out of the current consolidation phase. 
• On weekly charts after 5 consecutive positive closings bearish candle is seen with week to week loss of 87 points.
• The short term trend will remain in upward direction till the time Nifty Futures trades above 5090 which is crucial level to watch.
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5000 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5280 & 5320 and support levels are placed at 5220 & 5190 respectively.

13th July: Crucial Support for Nifty Futures of 5190

• Nifty Futures closed at 5251 which is 72 point lower than its previous close of 5323.
• Nifty Futures opened with big downward price gap of 53 points at 5270 and formed intraday low at 5229.
• If the 32 points price gap on daily chart remains intact then this is a bearish sign and important level to watch will be 5190.  
• If the breakdown of 5190 is seen then it is likely to come down till the next support of 5090.
• Now the level of 5300 will provide a strong resistance where again fresh bout of selling may be seen. 
• The short term RSI on daily chart has turned downward and cut the trigger line which is a signal of caution for the bulls.
• The short term trend will remain in upward direction till the time Nifty Futures trades above 5090 which is crucial level to watch.
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5000 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5280 & 5320 and support levels are placed at 5200 & 5150 respectively.

12th July: Nifty Futures expected range 5350 - 5250 for next 2 - 3 days

• Nifty Futures closed at 5323 which is 35 point lower than its previous close of 5358.
• After a strong bullish candle on previous day Nifty Futures opened with 32 points downward price gap at 5326 and narrow range movement was seen throughout the day.
• On daily chart “Harami Pattern” is seen as per Japanese candlestick analysis suggesting indecisiveness in the market.   
• For past 7 trading sessions Nifty Futures is moving in a 100 points range between 5350 - 5250 and this is likely to continue for next 2-3 trading sessions.
• In this range bound movement any fall in the range 5280 - 5250 will be a buying opportunity with a stop loss of 5090 and target of 5400 - 5450.  
• We expect gathering of upward momentum in the market from next week onwards after gap up opening above 5350 levels. 
• The short term trend will remain in upward direction till the time Nifty Futures trades above 5090 which is crucial level to watch. 
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5000 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5350 & 5400 and support levels are placed at 5300 & 5250 respectively.

11th July: Nifty Futures approaching 5400 mark

• Nifty Futures closed at 5358 which is 79 point higher than its previous close of 5279.
• Nifty Futures opening and low of the day was near 5280 and around 80 points rally was seen in intraday surpassing 5350.
• The rally seen in intraday of 80 points in Nifty Futures above 5350 is supported by higher trading volumes suggesting continuation in the current uptrend.  
• Now as Nifty Futures has closed above 5350, it is likely to enter 5400 - 5450 zone which is also a positional target.
• The multiple resistances are seen in the above mentioned zone of 5400 - 5450, hence partial profit booking is recommended in long trading positions. 
• The previous two day’s low at 5280 which is now immediate support if any corrective trend is seen.
• The short term trend will remain in upward direction till the time Nifty Futures trades above 5090 which is crucial level to watch.
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5000 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5400 & 5450 and support levels are placed at 5320 & 5280 respectively.

10th July: Strong support zone of 5250 - 5200 for Nifty Futures

• Nifty Futures closed at 5279 which is 48 point lower than its previous close of 5327.
• Nifty Futures opened above 5300 but the weak sentiments kept it below 5300 throughout the day and formed intraday low at 5263.  
• A bearish candle on daily chart is suggesting short term weakness and likely to test 5250 mark.
• Strong support zone for Nifty Futures is placed between 5250 - 5200 from where reversal may be seen in upward direction. 
• Earlier signs of strength of will be seen in Nifty Futures once it starts trading above 5310 and the breakout is placed at 5350 levels. 
• The positional target for Nifty Futures is still maintained in the range of 5400 - 5450.
• The short term trend will remain in upward direction till the time Nifty Futures trades above 5090 which is crucial level to watch.
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5000 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5310 & 5350 and support levels are placed at 5250 & 5200 respectively.

9th July: Nifty Futures likely to test 5400 mark in the current week

• Nifty Futures closed at 5327 which is 18 point lower than its previous close of 5345.
• Nifty Futures refused to surpass 5350 mark and moved in the 40 points range between 5340 & 5300.  
• The chart of Nifty Futures is indicating that the fresh uptrend will be accompanied with gap up opening above 5350.
• On the weekly chart, 5th consecutive positive closing was seen with 30 points gain on week on week basis. 
• If Nifty Futures able to surpass 5350 mark then the target is placed between 5400 - 5450 on positional basis. 
• On the downside, if Nifty Futures breaches and sustains below 5300 mark then next important support is placed at 5250.
• The trend reversal of current uptrend is placed at 5090 levels on closing basis.
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5000 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5350 & 5400 and support levels are placed at 5300 & 5250 respectively.

6th July: Nifty Futures needs to show positive weekly close above 5300

• Nifty Futures closed at 5345 which is 22 point higher than its previous close of 5323.
• Nifty Futures finally breached the consolidation phase and closed above 5330 which is high of past 3 trading sessions.
• The immediate resistance zone is placed between 5400 - 5450 where partial profit booking is recommended in long trading positions.
• After testing the zone of 5400 - 5450 Nifty Futures is expected to show a minor correction where 5300 would act as a strong support. 
• Now the support zone to watch is placed between 5270 - 5250 which needs to remain intact for continuing the current rally. 
• The previous weekly close is seen at 5297 and current weekly close above this level will continue the current positive momentum.
• Trend reversal and crucial support is still maintained at the level of 5090 in Nifty Futures considering current uptrend.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5360 & 5400 and support levels are placed at 5300 & 5250 respectively.

5th July: Awaiting for the breakout of 5350 in Nifty Futures

• Nifty Futures closed at 5323 which is 17 point higher than its previous close of 5306.
• After the break out of 5250 Nifty Futures is still trading below 5330 for past 3 trading sessions. 
• For continuing the upward momentum Nifty Futures needs to give a breakout above 5350 which is eagerly awaited.
• Long positions can be held till Nifty Futures enters the zone fo 5400 - 5450 which is a positional target. 
• Fresh long positions can be created either above 5350 or in the support zone fo 5250 - 5200 with a stop loss of 5090.
• On daily chart after the current rally from 5120 “Bullish Flag Pattern” is visible suggesting strong uptrend is in the offing.
• An upward price gap opening in Nifty Futures will be earlier sign of beginning of fresh uptrend. 
• 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 5350 & 5400 and support levels are placed at 5270 & 5220 respectively.

4th July: Nifty Futures in a buy in dips mode

• Nifty Futures closed at 5306 which is 10 point higher than its previous close of 5296.
• The level of 5330 is still providing strong resistance and Nifty Futures is trading in the range of 60 points between 5330 - 5270.
• Any intraday correction near 5250 - 5200 will be a buying opportunity with a positional target of 5400 and stop loss of 5090.
• As per the intraday chart the immediate resistance is 5350 and above that Nifty Futures is likely to test the level of 5400.
• Though short term RSI on daily chart is in overbought territory still it is moving above the trigger line maintaining the buy mode.
• Nifty Futures needs to close above 5350 to come out of the current consolidation phase and to exhibit a fresh rally.
• The stop loss is still maintained at the level of 5090 for long trading positions.
• 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 5350 & 5400 and support levels are placed at 5250 & 5200 respectively.

3rd July: Buying zone 5250 - 5200 for Nifty Futures

• Nifty Futures closed at 5296 which is just 1point higher than its previous close of 5297.
• Nifty Futures formed intraday high at 5324 but the intraday gains did not sustain and closing was seen below 5300 mark.
• Nifty Futures traveled 203 points from the low of 5121up to the current high of 5324 hence some corrective trend may be seen.
• As the level of 5350 is immediate resistance corrective trend may be seen in the range of 5250 - 5200.
• Buying can be initiated in Nifty Futures in the above mentioned zone of 5250 - 5200 with stop loss of 5090 for target of 5400 - 5450.
• Only in the case of strong closing above 5350 there is a probability that current uptrend may continue without showing any corrective trend.
• The upside gap of 56 points visible of daily chart from 5159 till 5215 is suggesting high probability of sustained run up in the market.
• 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 5350 & 5400 and support levels are placed at 5250 & 5200 respectively.