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.