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.