20th November: Nifty Futures is likely to trade between 5550 & 5660

• Nifty Futures closed at 5590 which is 9 points higher than its previous close of 5581.

• Nifty Futures breached Friday’s low and formed new low in intraday at 5563 and closed near 5600 mark.

• The intraday chart of Nifty Futures is showing corrective bounce in the offing with immediate target of 5620 and next at 5660.

• Nifty Futures is likely to trade in the range of 5550 & 5660 for some time showing consolidation before continuing the current uptrend.

• The breakdown of 5550 may lead to further fall in Nifty Futures till the next support of 5470.

• The strength in the market will be seen only after Nifty Futures trades and sustains above 5700.

• The next timing cycle day is placed at 22^nd / 23^rd November for signaling the trend direction.

• The intraday resistance levels for Nifty are placed at 5620 & 5660 where as the intraday support levels are placed at 5550 & 5500 respectively.