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.