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.