1st Oct: Early signs of trend reversal seen on weekly chart of Nifty Futures

• Nifty Futures closed at 5730 which is 80 points lower from its previous close of 5650.
• Nifty Futures formed intraday high at 5766 but reacted downwards and was not able to close above the crucial resistance of 5750 .
• ’The Gravestone Doji’ pattern is formed on daily chart which is suggesting profit booking and diminishing buying power.
• Key support remains ant 5640 and below that next level is placed at 5550.
• Though the weekly close is positive by 23 points the “Doji Pattern” formation is suggesting higher probability of testing of 5550 levels.
• The chartical indications are suggesting downward correction until Nifty Futures closes above 5760.
•  The short term trend of Nifty Futures is positive till it trades above the reversal level of 5335.
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5760 & 5800 and support levels are placed at 5690 & 5640 respectively.

28th Sept: 5700 - 5750 consistently providing strong resistance

• Nifty Futures closed at 5650 which is 20 points lower from its previous close of 5670.
• Nifty Futures opened near 5700 but was not able to move in upward direction and corrected downwards to form intraday low at 5644.
• Nifty Futures is still holding the crucial support of 5640 and below this fall may be seen till 5550.
• On the higher side 5700 - 5750 is strong resistance zone hence profit booking is recommended in trading long positions.
• The short term RSI is in extreme overbought zone hence caution is recommended as reversal may be seen. 
• Uptrend will be materialized only in case of closing above the level of 5750 in Nifty Futures.
•  The short term trend of Nifty Futures is positive till it trades above the reversal level of 5335. 
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5700 & 5750 and support levels are placed at 5600 & 5550 respectively.

26th Sept: 5750 - 5780: Book profits in trading long positions

• Nifty Futures closed at 5683 which is just 1 point higher from its previous close of 5682.
• Nifty Futures traded above the initial support level of 5650 throughout the day but level of 5700 provided the resistance.
• If Nifty Futures is able to maintain the support 5650 an upward movement may be seen with target of 5750 - 5780.
• Profit booking in long trading positions is recommended in above mentioned zone of 5750 - 5780 where trend line resistance is seen as shown in the chart. 
• The short term RSI on daily chart is moving in overbought territory suggesting corrective move is in the offing. 
• In case of downward breach of 5650 Nifty Futures may come down sharply towards the next support level of 5550.
•  The short term trend of Nifty Futures is positive till it trades above the reversal level of 5335. 
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5730 & 5780 and support levels are placed at 5650 & 5600 respectively.

20th Sep: Nifty Futures consolidating between 5650 & 5600

• Nifty Futures closed at 5617 which is 32 points higher from its previous close of 5585.
• Nifty Futures moved in a very narrow range of 30 points between 5632 & 5602 throughout the day with lower trading volumes.
• An upward momentum is still intact on the charts with an expected target of 5700.
• The zone of 5590 to 5530 is likely to provide strong support if any corrective trend is seen and rally is expected to continue. 
• Though the short term RSI on daily chart is entering overbought territory, still it is in a ‘Buy’ mode. 
• Profit booking is recommended above 5700 as multiple resistances are coinciding at this level on the charts..
•  The short term trend of Nifty Futures is positive till it trades above the reversal level of 5230. 
• 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 5650 & 5700 and support levels are placed at 5590 & 5540 respectively.

17th Sept: Intermediate high of 5635 in the offing for Nifty Futures

• Nifty Futures closed at 5585 which is 13 4 points higher from its previous close of 5451.
• Nifty Futures opened with 80 points upward price gap at 5530 which was the days low and forming intraday high at 5597.
• Nifty futures is now approaching its intermediate high of 5635 and next resistance is placed at 5700 level.
• Nifty Futures rallied throughout the week to show positive weekly close with week on week gain of 205 points. 
• The earlier resistance zone of 5450 - 5400 will now serve as a strong support range if any corrective trend is seen.
• The next timing cycle day to watch is placed on 17th & 18th September where reversal may be seen on the charts.
•  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 5635 & 5680 and support levels are placed at 5520 & 5470 respectively.

14th Sept: Support zone for Nifty Futures 5400 - 5350

• Nifty Futures closed at 5451 which is just 4 points higher from its previous close of 5447.
• Nifty Futures moved in narrow range of 20 points throughout the day from 5435 till 5455 waiting for a positive trigger.
• Nifty Futures is now trading near its previous high of 5463 and any movement above this would stretch it further till 5520 level which is a trend line resistance.
• Any corrective movement is likely to find support near the level of 5400 and below that next level to watch is placed at 5350.
• Current weekly close above 5380 will confirm positive weekly close and closing above 5460 will indicate a strong momentum for coming days.
• The next timing cycle day to watch is placed on 17th & 18th September where reversal may be seen on the charts.
•  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 5470 & 5520 and support levels are placed at 5400 & 5350 respectively.

13th Sept: Post 5460 Nifty Futures targeting 5520 level.

• Nifty Futures closed at 5447 which is 42 points higher from its previous close of 5405.
• After bottom of 5335 Nifty Futures traveled 118 points in just 2 trading sessions and is near the intermediate of 5460.
• On the daily chart the trend line connecting the earlier highs of 5455 and 5364 is showing resistance at 5520 which is a next target of Nifty Futures.
• Now the level of 5380 is immediate support and below that the next level is placed at 5330. 
• The short term RSI on daily chart is indicating still some steam left in current rally where the levels to watch are 5520 and 5635.
• The next timing cycle day to watch is placed on 17th & 18th September where reversal may be seen on the charts.
•  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 5470 & 5520 and support levels are placed at 5420 & 5380 respectively.

12th Sept: Nifty Futures needs to hold 5300 for continuing the uptrend.

• Nifty Futures closed at 5405 which is 33 points higher from its previous close of 5372.
• After a dip below 5350 Nifty Futures rebounded and closed above 5400 mark.
• Closing above 5400 is suggesting the level of 5450 -5460 which is earlier high where temporary halt may be seen.
• The immediate support level for Nifty Futures is placed at 5380 and it needs to sustain above 5300 for continuing the uptrend. 
• The short term RSI on daily chart is still in buy mode which is well supported by trading volumes seen on daily chart.
• The next timing cycle day to watch is placed on 17th & 18th September where reversal may be seen on the charts.
•  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 5420 & 5460 and support levels are placed at 5380 & 5320 respectively.

11th Sep: 5320 - 5280 Support Zone for Nifty Futures

• Nifty Futures closed at 5372 which is 17 points lower from its previous close of 5389.
• Nifty Futures was not able to cross 5400 mark and moved in a narrow range of 29 points from 5387 - 5358.
• Nifty Futures may correct the current uptrend of 153 points from 5237 till 5390 before continuing the current rise.
• This correction is likely to arrest in the strong support zone from 5320 - 5280 which sis also a price gap on daily Chart.
• In case of Nifty Futures closing above 5410 it is likely to move towards its earlier high of 5460.
• The next timing cycle day to watch is placed on 17th & 18th September where reversal may be seen on the charts.
•  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 5380 & 5410 and support levels are placed at 5330 & 5280 respectively.

10th September: Nifty Futures heading towards earlier high of 5460

• Nifty Futures closed at 5389 which is 30 points higher from its previous close of 5359.
• After a steep fall of 226 points from the high of 5463 up to the low of 5237, Nifty Futures rebounded and moved above 5350.
• The closing of Nifty Futures is seen near 62% retracement level at 5380 of above mentioned fall and is now heading towards earlier high of 5460 .
• An upward price gap of 41 points seen on daily chart between 5326 & 5285 will provide a strong support if any corrective trend is seen .
• A positive short term RSI and daily trading volumes are suggesting a continuation of positive movements and high probability of testing of 5460 .
• The next timing cycle day to watch is placed on 17th & 18th September where reversal may be seen on the charts.
•  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 5410 & 5460 and support levels are placed at 5360 & 5320 respectively.

Positive weekly close will enhance the probability of bounce back

Nifty Futures closed at 5261 which is 8 points higher from its previous close of 5253.
For past 4 trading sessions Nifty futures is consistently forming lower top lower bottom where days low was seen at 5238.
Nifty future is already trading near the immediate support of 5260 and if the weakness persist on the charts then it is likely to move towards 200 EMA of 5190.
The crucial support zone from the level of 5190 till 5176 is trend decider for short term trend reversal.
The previous weekly close was seen at 5291 and current weekly close above this level will ensure much needed bounce back in Nifty Futures.
If the bounce back is materialized then retracement resistance levels are placed at 5340 and 5380.
 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 5300 & 5340 and support levels are placed at 5230 & 5190 respectively.

Bounce back is not able to materialize due to consistent selling pressure.

Nifty Futures closed at 5253 which is 46 points lower from its previous close of 5299.
Nifty Futures breached the double bottom level of 5260 and formed intraday low at 5241.
The trend of Nifty Futures is seen deteriorating as it is not able to breach the initial resistance of 5330 in past 3 trading sessions.
Now if the downtrend continues, crucial support is placed at 5190 which is 200 days EMA and short term trend reversal will be confirmed below 5170.
Any upward movement is likely to face resistance near 5330 and above that next level to watch is at 5380 levels.
Fresh buying is not recommended till positive momentum along with the buying indication from oscillators is generated 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 5290 & 5330 and support levels are placed at 5230 & 5190 respectively.

Nifty Futures exhibiting earlier indication of double bottom near 5260.

Nifty Futures closed at 5299 which is 16 points higher from its previous close of 5283.

Nifty Futures formed intraday low at 5258 and moved upwards to close near 5300 levels.
Nifty Futures earlier bottom is also seen at 5258 before 3 days thus showing a probability of double bottom formation at 5260.
The bounce back in Nifty Futures needs to surpass 5330 and in this scenario the 62% retracement is placed at 5380 which is strong resistance.
In case of breakdown of 5250 sharp sell off may be seen till 200 days EMA placed at 5200 level.
The short term RSI on daily chart is entering oversold zone but yet to generate buy signal.
 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 5330 & 5380 and support levels are placed at 5260 & 5200 respectively.

Weak trend continues as Nifty Futures approaches 5260 again

Nifty Futures closed at 5283 which is 9 points lower from its previous close of 5292.
Nifty Futures was not able to surpass previous trading days high of 5328 and fell down to form intraday low at 5272.
Nifty Futures is again approaching the earlier bottom of 5260 without showing any upward correction suggesting continuation of weak trend.
Closing or sustaining below 5260 is likely to push Nifty Futures towards its 200 days EMA at 5190 levels which is the next support.
For any bounce back the level of 5340 will provide resistance and above that the next resistance is placed at 5380 levels.
 Nifty Futures needs to surpass 5420 on closing basis to come out of the clutches of bears.
 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 5310 & 5340 and support levels are placed at 5260 & 5190 respectively.
The Breadth of the market was positive as out of 1562 stocks traded in NSE, 807stocks advanced,656 stocks declined and 99 stocks remained unchanged.
Among the sectoral indices, buying was seen in Capital Goods and Consumer Durables whereas selling was witnessed in Realty and Oil&gas sector stocks.