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.