30th Aug: Crucial support placed at 5260 for Nifty Futures

• Nifty Futures closed at 5297 which is 49 points lower from its previous close of 5346.
• Nifty Futures exhibited a “shaven body” pattern on daily chart suggesting immense selling pressure in market.
• The level of 5260 is likely to provide strong support for Nifty Futures but if it fails then sharp sell off may be seen in the market.
• Trend reversal level for Nifty Futures is placed at 5170 and at this juncture the victory of bears and bulls will decide the short term trend direction 
• However if any bounce back is seen in Nifty Futures then the level of 5350 is initial resistance to watch.
• The short term RSI with negative divergence and consistent fall in Nifty Futures is indicating to avoid any fresh long positions before any reversal signal on the chart. 
•  The short term trend of Nifty Futures is positive till it trades above the reversal level of 5170. 
• 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 5260 & 5200 respectively.

29th Aug: Correction continued for 4th consecutive day testing 5320

• Nifty Futures closed at 5346 which is 16 points lower from its previous close of 5362.
• Nifty Futures lost 142 points in past 4 trading sessions from the high of 5464 up to 5322 which was the days low.
• Bounce back may be seen in Nifty Futures after testing the low 5320 which can be stretched up to 5380  and above that 5410.
• Till Nifty Futures trades below 5460 the sideways movement and consolidation phase is likely to continue in Nifty Futures.
• The breach of 5320 may result in sharp slide till the next support level of 5260.
• The short term RSI is suggesting selling pressure and absence of buying in the market.
• The short term trend of Nifty Futures is reversed to positive direction as market is trading above the reversal level of 5300.
• 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 5380 & 5410 and support levels are placed at 5320 & 5260 respectively.

28th Aug: Immediate support zone to watch for Nifty Futures is 5350 - 5300

• Nifty Futures closed at 5362 which is 41points lower from its previous close of 5403.
• Nifty Futures opened near 5400 but gradually declined during the day forming intraday low at 5358.
• After a rally of 429 points from 5034 till 5463, Nifty Futures has shown retracement in past 3 trading sessions due to profit booking.
• This corrective move of Nifty Futures is likely to stop in the range of 5350 - 5300 where multiple supports are seen on daily chart. 
• The short term RSI on daily chart has intersected the trigger line downwards which would support the above mentioned correction till 5350 - 5300.
• On immediate basis Nifty Futures may find resistance near 5400  and above that next level to watch is 5460. 
•  The short term trend of Nifty Futures is reversed to positive direction as market is trading above the reversal level of 5300. 
• 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 & 5460 and support levels are placed at 5350 & 5300 respectively.

27th August: 4th Consecutive Positive Weekly Close suggesting strong hold of Bulls

• Nifty Futures closed at 5403 which is just 24 points lower from its previous close of 5427.
• Nifty Futures traded below previous day’s closing of 5427 throughout the day and formed intraday low at 5381.
• For past 11 trading sessions, Nifty Futures is moving in a ‘Rising Parallelogram’ structure showing range bound movements coupled with lower trading volumes.
• Nifty Futures is expected to move near 5500 and positional target remains same at 5540. 
• If the corrective trend is continued, then the crucial support is placed at 5320 below which a weakening trend may be seen.
• Nifty Futures has exhibited 4th consecutive positive weekly close gaining 21 points rise over its previous weekly close.
•  The short term trend of Nifty Futures is reversed to positive direction as market is trading above the reversal level of 5300. 
• 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 5440 & 5490 and support levels are placed at 5380 & 5350 respectively.

24th August: Market missing the required upthrust

• Nifty Futures closed at 5427 which is just 4 points lower from its previous close of 5431.
• Nifty Futures is consistently forming higher tops but the trading is seen in narrow range of 60 points through out the day with lower trading volumes.
• After surpassing the 5400 mark a strong bullish candle of more than 100 points was expected which is missing on the charts as few days are left for expiry.
• Any down move from here should get arrested in the range of 5350 - 5320 which is intermediate low on daily chart. 
• The level of 5320 is a very crucial level which is supporting the current up move and should be treated as a stop loss for existing long positions.
• On the higher side the level of 5490 is initial target where profit booking is recommended.
•  The short term trend of Nifty Futures is reversed to positive direction as market is trading above the reversal level of 5300. 
• 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 5450 & 5490 and support levels are placed at 5390 & 5350 respectively.

23rd Aug: Long Positions can be held with a SL of 5320 in Nifty Futures

• Nifty Futures closed at 5431 which is 11 points lower from its previous close of 5442.
• Nifty Futures opened near 5405 and rallied thereafter surpassing yesterdays high of 5447 and forming new high at 5455 on intraday chart.
• Nifty Futures tested 5450 and now it is approaching initial target of 5490 where part profit booking is recommended in existing long positions
• Though the initial target is at 5490 the positional target for Nifty Futures is still maintained at  5540.
• In case of any counter trend move in Nifty Futures the support zone to watch is placed between 5390 and 5370.
• As the momentum in Nifty Futures is still in upward direction the long positions can be held with the stop loss of 5320.
•  The short term trend of Nifty Futures is reversed to positive direction as market is trading above the reversal level of 5300. 
• 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 5450 & 5490 and support levels are placed at 5390 & 5350 respectively.

22nd Aug: Nifty Futures heading towards 5500 levels

• Nifty Futures closed at 5442 which is 60 points higher from its previous close of 5382.
• Strong uptrend of 74 points was seen in Nifty Futures in intraday from the bottom of 5373 up to 5447 showing a much awaited breakout.
• After surpassing the 5400 mark, now Nifty Futures is heading towards its initial target of 5490 - 5500 which is expected to be achieved in next few trading sessions.
• Positional target for Nifty Futures is still maintained between 5500 - 5550 where multiple resistances are seen on the chart.
• Though the short term RSI on daily chart is entering the overbought territory, volume exertion is not seen suggesting strong upward momentum.  
• Any corrective trend in Nifty Futures is expected to find support in the range of 5350 - 5320 zone.
• The stop loss on positional basis for the current rally in Nifty Futures is at 5280 and the earlier signal of weakness will be seen once 5320 is breached.
• The short term trend of Nifty Futures is reversed to positive direction as market is trading above the reversal level of 5300. 
• 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 5450 & 5490 and support levels are placed at 5400 & 5350 respectively.

21st August: Sustaining above 5400 will turn markets in bulls favor

• Nifty Futures closed flat at 5382 which same as its previous days close.
• Nifty Futures breached previous 3 sessions high and tested 5423 but could not sustain  and reacted downwards closing 40 points lower from days high.
• After consistent attempts Nifty Futures failed to close above 5400 on weekly closing basis..
• But 3rd consecutive positive weekly close is seen in Nifty futures with a gain of 38 points week on week basis.
• On daily chart last 7 trading sessions has formed a parallelogram pattern which is showing 5350 - 5320 as an initial support zone.  
• If the level of 5320 is breached then next important level is at 5280 which should be treated as a stop loss on positional basis.
• If Nifty Futures is able to sustain above 5400 then strong uptrend may be visible with initial target of 5490 and positional target of 5600.
• The short term trend of Nifty Futures is reversed to positive direction as market is trading above the reversal level of 5300. 
• 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 5410 & 5450 and support levels are placed at 5350 & 5320 respectively.

14th Aug: 5320 is likely to provide strong support to Nifty Futures

• Nifty Futures closed at 5372 which is 27 points higher  than its previous close of 5345.
• Nifty Futures opened at 5338 and formed intraday low at 5326 which is higher than previous days low but managed to close at 5372.
• The upward breakout is placed at 5400 hence closing or sustaining above this level is likely trigger sharp rally in Nifty Futures.
• After the expected breakout initial target for Nifty Futures is at 5490 and the next target on positional basis is placed at 5600 level.  
• For past 3 trading sessions corrective trend of Nifty Futures is getting arrested between 5330 - 5320 hence Nifty Futures needs to maintain this level .
• If the level of 5320 is breached downward then next support level to watch is placed at 5280 for Nifty Futures.
• The short term trend of Nifty Futures is reversed to positive direction as market has closed above the reversal level of 5300. 
• 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 5380 & 5420 and support levels are placed at 5320 & 5280  respectively.

13th Aug: Breakout for Nifty Futures placed at 5400

• Nifty Futures closed at 5345 which is just5points lower  than its previous close of 5350.
• The consolidation phase and narrow range movement continued for past 4 trading sessions in the market as Nifty Futures is closing near 5350.
• 2nd consecutive positive weekly close is seen in Nifty Futures with a gain of 109 points on week to week basis
• On weekly chart the upward breakout is placed at 5400 levels and with a positional target near 5600 levels.  
• On the downside if any corrective movement is seen the strong support zone is seen in the range of 5280 - 5260 where buying is recommended.
• The stop loss for long trading positions is placed at 5170 below which selling pressure may be seen in the market.
• The short term trend of Nifty Futures is reversed to positive direction as market has closed above the reversal level of 5300. 
• 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 5380 & 5410 and support levels are placed at 5340 & 5280  respectively.

9th August: Nifty Futures is likely to find support in the range of 5300 - 5250

• Nifty Futures closed at 5355 which is just 7points higher than its previous close of 5348.
• Nifty Futures opened at 5355 and moved near 5400  forming intraday high at 5393 but near the closing session reacted downwards
• The intraday chart is indicating corrective trend in Nifty Futures near 5300 as indicated by channel breakdown shown in the chart.
• The above mentioned corrective downward movement in Nifty Futures is likely to find support in the range of 5300 - 5250.
• The buying is recommended in Nifty Futures in this range of 5300 - 5250 with a stop loss of 5180  and initial target of 5400.
• On the higher side if Nifty Futures manages to move above this mentioned initial resistance level of 5400 then fresh up move could be seen till the level of 5490.  
• The short term trend of Nifty Futures is reversed to positive direction as market has closed above the reversal level of 5300. 
• 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 5390 & 5440 and support levels are placed at 5300 & 5250 respectively.

8th August: Nifty Futures needs to surpass 5360 for continuation of upward momentum

• Nifty Futures closed at 5348 which is 51points higher than its previous close of 5297.
• Nifty Futures opened above 5300 and rallied throughout the day  to test the intermediate resistance level of 5360
• To continue the current upward momentum Nifty Futures needs to surpass and stay above the level of 5360 for moving near 5400 mark.
• As multiple resistances are seen near the level of 5400 we recommend to book part profit in existing long positions in the zone of 5380 - 5400.  
• If the corrective trend is seen the immediate support zone for Nifty Futures is placed between 5300 - 5270.
• The short term RSI on daily chart is still in the positive territory and indicating continuation of the current uptrend after a brief pause.   
• The short term trend of Nifty Futures is reversed to positive direction as market has closed above the reversal level of 5300 . 
• 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 5360 & 5400 and support levels are placed at 5300 & 5250 respectively.

7th August: Immediate resistance for Nifty Futures placed at 5360

• Nifty Futures closed at 5297which is 56  points higher than its previous close of 5241.
• Nifty Futures opened with an upward price gap of 47 points at 5287 and maintained the price gap throughout the day where intraday high was seen at 5309.
• Nifty Futures tested the resistance of 5310 during the day which is offered by the trend line connecting the previous 2 highs of 5700 and 5364 but failed to breach it on closing basis.  
• The current upward momentum is likely to test the intermediate resistance level of 5360 which is just 63 points away from the current close.
• The positional target fr Nifty Futures remains at 5400 where multiple resistances are coinciding, hence profit booking is recommended near this level.
• On the immediate basis the level of 5240 is an initial support and next support is placed at 5200 levels
• The crucial support and trend reversal level is placed at 5170 for Nifty Futures.   
• 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 5360 & 5400 and support levels are placed at 5240 & 5200 respectively.

6th August: Positional Target 5400 for Nifty Futures

• Nifty Futures closed at 5241which is just 6  points lower than its previous close of 5247.
• Nifty Futures opened with downward price gap and formed intraday bottom of 5177 and rallied upwards throughout the day showing regaining strength.
• The important resistance to watch is placed at 5310 and if it is surpassed on closing basis then positional target for Nifty Futures is seen at 5400.  
• On the weekly chart, positive weekly close is seen with 118 points gain on week to week basis indicating fresh rally in the market.
• The short term RSI and trading volumes on daily chart are supporting the current up-move and the possibility of testing of 5400 mark.
• Now, the level of 5170 can be treated as stop loss for trading long positions with positional target of 5400.   
• 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 5310 & 5360 and support levels are placed at 5250 & 5200 respectively.

3rd Aug: Immediate Support zone of 5200 - 5170 for Nifty Futures

• Nifty Futures closed at 5247 which is just 9 points lower than its previous close of 5256.
• Nifty futures moved in a narrow range of 31 points between 5253 and 5222 throughout the day with lower trading volumes.
• Nifty Futures is expected to test the resistance level of 5300 where partial profit booking is recommended in long trading positions
• On the downside the immediate support zone is placed between 5200 - 5170 for Nifty Futures.
• The previous weekly close was seen at 5123 and Nifty Futures is now trading around 130 points above this level showing upward momentum.
• In case of market closing above 5310 the next resistance is placed at 5360 which is intermediate high on daily charts.  
• 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 5300 & 5360 and support levels are placed at 5220 & 5170 respectively.

2nd August: Nifty Futures approaching trend line resistance of 5300

• Nifty Futures closed at 5256 which is just 15 points higher than its previous close of 5241.
• Nifty Futures opened flat at 5239 and traded in a narrow range of 37 points from 5267 up to 5229 through out the day consolidating previous gains.
•  Nifty Futures is now approaching its trend line resistance placed at the level of 5300 where part profit booking is recommended in long positions
• After booking part profits near 5300 in long trading positions the remaining positions can be held with the stop loss of 5100.
• The 200 Days EMA of Nifty Futures is placed at 5170 which is likely to provide good support on the downside if any corrective movement is seen
• Only in the case of closing above 5310 the next resistance is placed at 5360 which is current intermediate high.  
• 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 5300 & 5360 and support levels are placed at 5210 & 5170 respectively.