1st January: Level of 5960 still providing resistance to Nifty Futures

• Nifty closed at 5955 which is 25 points higher than its previous close of 5930.
• The absence of positive trigger is forcing Nifty Futures to remain range bound with very low trading volumes.
• Fresh trading long positions are recommended only closing above 6000 mark where upward breakout will be materialized on the chart.
• The immediate support is placed at 5900 which is trend line support as shown in the chart.
• The trend reversal level is placed at 5840 on closing basis below which sharp selloff may be seen.
• The important timing cycle day is placed on 4^th or 7^th January for reversal or continuation of ongoing uptrend.
• As long as Nifty trades above 5600, the current intermediate trend is positive.
• The intraday resistance levels for Nifty are placed at 5960 & 6000 whereas the intraday support levels are placed at 5900 & 5840 respectively.  

28th December: Trend Deciding Levels for S&P CNX Nifty: 5840 & 5940

• Nifty closed at 5870 which is 36 points higher than its previous close of 5906.
• Nifty was not able to cross 5940 levels and reacted downwards from the day’s high of 5930 on November series expiry day.
• The intermediate high is placed at 5940 and closing above this level may push Nifty towards 6000 mark.
• At the same time, the bottom of 5840 is a crucial support and breakdown of this level is like to push Nifty towards 5790 – 5780 mark.
• Considering the above levels, 5940 and 5840 are likely to remain crucial levels for trend direction.
• The important timing cycle day is placed on 4^th or 7^th January for reversal or continuation of ongoing uptrend.
• As long as Nifty trades above 5600, the current intermediate trend is positive.
• The intraday resistance levels for Nifty are placed at 5940 & 5970 whereas the intraday support levels are placed at 5840 & 5810 respectively. 

24th December: Nifty Futures in corrective mode

• Nifty Futures closed at 5853 which is 78 points lower than its previous close of 5931.

• Nifty Futures lost 100 points in last 3 trading sessions from the high of 5961 and now approaching towards its crucial support of 5840.

• The breakdown of 5840 is likely to push Nifty Futures 100 more points lower towards 5750 levels.

• The second consecutive negative weekly close is suggesting Nifty Futures is in corrective mode and shade some more points in current week.

• Bearish candle on weekly chart is indicating profit booking and lack of buying interest as Nifty Futures lost 62 points week on week basis.

• On the higher side, the level of 5900 – 5920 is strong resistance zone if any corrective bounce back is seen.

• As long as Nifty Futures trades above 5600, the current intermediate trend will be positive.

• The intraday resistance levels for Nifty are placed at 5870 & 5900 whereas the intraday support levels are placed at 5840 & 5800 respectively.  

21st December: Weekly close of Nifty Futures above 5960 to continue uptrend

• Nifty Futures closed at 5931 which is 16 points lower than its previous close of 5947.
• The level of 5960 is consistently providing resistance and Nifty Futures needs to close above this level for generating upward momentum.
• The immediate target after the upward breach of 5960 is placed at 6000 levels which is the earlier high.
• We recommend to book profits above 6000 in long trading positions as profit booking may be seen in coming days.
• The immediate support is placed at 5900 and the trend reversal level is placed at 5840.
• The level of 5840 is a crucial support and can be treated as stop loss for all trading long positions.
• As long as Nifty Futures trades above 5600, the current intermediate trend will be positive.
• The intraday resistance levels for Nifty are placed at 5960 & 6000 whereas the intraday support levels are placed at 5900 & 5840 respectively.

20th December: Immediate Support for Nifty Futures at 5900

• Nifty Futures closed at 5947 which is 18 points higher than its previous close of 5929.
• Nifty Futures moved in just 25 points range testing 5960 keeping the hope of uptrend continuation.
• Above 5960, the next target for Nifty Futures is placed at 6000.
• If any corrective trend is seen, then the immediate support is placed at 5900 from where uptrend is likely to resume again.
• Nifty Futures can be bought in the range of 5920 – 5900 with the stop loss of 5840 and initial target of 6000 levels.
• The level of 5840 is a crucial support and can be treated as stop loss for all trading long positions.
• As long as Nifty Futures trades above 5600, the current intermediate trend will be positive.
• The intraday resistance levels for Nifty are placed at 5960 & 6000 whereas the intraday support levels are placed at 5910 & 5870 respectively.  

18th Dec: Trend Direction to set after breach of 5940 or 5870

• Nifty Futures closed at 5889 which is 26 points lower than its previous close of 5915.
• Nifty Futures moved in extremely narrow range of 27 points between 5908 and 5881 throughout the day with thin volumes continuing the indecisiveness.
• The double bottoms are seen at 5870 and closing below this level may push Nifty Futures lower where supports are placed at 5840 & 5800.
• Nifty Futures needs to surpass 5940 on closing basis to regain the strength and afterwards can move upwards to retest 6000 level again.
• The short term RSI is moving below the trigger line and not showing any sign of revival yet.
• The fresh long / short positions are advised only after closing above 5940 or below 5870.
• As long as Nifty Futures trades above 5600, the current intermediate trend will be positive.
• The intraday resistance levels for Nifty are placed at 5910 & 5940 whereas the intraday support levels are placed at 5870 & 5840 respectively.  

17th December: Nifty Futures consolidating between 6000 & 5850

• Nifty Futures closed at 5915 which is 39 points higher than its previous close of 5876.
• Double bottom formation was seen in Nifty Futures at 5870 but was not able to cross its previous day’s high of 5939.
• Nifty Futures needs to surpass 5960 level on closing basis for moving in upward direction.
• An immediate target of Nifty after breaching 5960 is placed at 6050.
• But the breakdown of 5870 can push Nifty Futures towards 5800 mark which is next support level.
• Nifty Futures exhibited a negative weekly close losing 30 points week of week basis.
• As long as Nifty Futures trades above 5600, the current intermediate trend will be positive.
• The intraday resistance levels for Nifty are placed at 5960 & 6000 where as the intraday support levels are placed at 5870 & 5840 respectively.  

14th Dec: Nifty Futures at crucial support zone 5870 - 5840

• Nifty Futures closed at 5876 which is 52 points lower than its previous close of 5928.
• After testing 6000 mark, Nifty Futures is consistently closing lower for past three trading sessions and lost 137 points from the high of 6002.
• Nifty Futures has entered the strong support zone of 5870 – 5840 where current fall is expected to halt.
• But if 5840 is breached then next support level is placed at 5800.
• The long positions can be initiated below 5850 with stop loss of 5750 and target of 6000 & 6100 on positional basis.
• The previous weekly close was seen at 5945 and Nifty Futures needs to gain 65 points from the current levels to show a positive weekly close.
• As long as Nifty Futures trades above 5600, the current intermediate trend will be positive.
• The intraday resistance levels for Nifty are placed at 5920 & 5960 where as the intraday support levels are placed at 5840 & 5800 respectively. 

11th Dec: Corrective trend may extend if Nifty Futures trades below 5920

• Nifty Futures closed at 5942 which is just 3 points lower than its previous close of 5945.
• Nifty Futures was not able to move above 5960 and formed the bottom of 5924 in intraday, thus indicating 5920 as a crucial support.
• The breakdown of 5920 will result in extending the corrective trend and Nifty Futures may slide towards 5870 levels.
• The zone of 5850 – 5800 is a strong support zone for Nifty Futures as multiple supports are seen.
• The buying can be initiated in Nifty Futures between 5870 – 5820 with the stop loss of 5770 and target of 6100.
• The timing cycle day is seen on 12^th December where trend direction will be seen on daily chart.
• The short term RSI on daily chart is in the overbought zone and suggesting caution for creating fresh long positions.
• The intraday resistance levels for Nifty are placed at 5980 & 6020 where as the intraday support levels are placed at 5900 & 5850 respectively.  

10th December: 5850 - 5800: Strong support zone for Nifty Futures

• Nifty Futures closed at 5945 which is 26 points higher than its previous close of 5971.
• Nifty Futures fell just short to test 6000 mark and formed high at 5985.
• The level of 5930 is an immediate support for Nifty Futures.
• The breakdown of 5930 will result in extending the corrective trend and Nifty Futures may near 5850 levels.
• The zone of 5850 – 5800 is a strong support zone for Nifty Futures as multiple supports are seen.
• The buying can be initiated in Nifty Futures between 5850 – 5800 with the stop loss of 5775 and target of 6100.
• On weekly chart, again a positive close is seen with week on week gain of 36 points.
• The intraday resistance levels for Nifty are placed at 5980 & 6020 where as the intraday support levels are placed at 5900 & 5850 respectively.  

6th December: Closing above 5950 to trigger a fresh rally

• Nifty Futures closed at 5924 which is 12 points higher than its previous close of 5912.
• For past three trading sessions, Nifty Futures is exhibiting sideways movement between 5930 and 5870 and waiting for trigger to move higher.
• The above mentioned range bound movement is seen well above the 30 points price gap visible on daily charts between 5868 & 5838.
• The upward breakout is placed at 5950 on closing basis and after materializing this, a sharp uptrend of around 100 points may be seen.
• At the same time, the important support to watch at 5880 and breakdown of this level will result in fall of 50 to 80 points pushing Nifty Futures near 5800.
• The current trend of Nifty is strongly up hence we recommend to buy near 5800 or above 5950 with proper stop loss.
• A current uptrend and the projection of higher values for Nifty Futures will continue till Nifty Futures is trading above 5600 on closing basis.
• The intraday resistance levels for Nifty are placed at 5950 & 6000 where as the intraday support levels are placed at 5880 & 5830 respectively.  

5th December: Closing above 5950 to trigger a fresh rally

• Nifty Futures closed at 5924 which is 12 points higher than its previous close of 5912.
• For past three trading sessions, Nifty Futures is exhibiting sideways movement between 5930 and 5870 and waiting for trigger to move higher.
• The above mentioned range bound movement is seen well above the 30 points price gap visible on daily charts between 5868 & 5838.
• The upward breakout is placed at 5950 on closing basis and after materializing this; a sharp uptrend of around 100 points may be seen.
• At the same time, the important support to watch at 5880 and breakdown of this level will result in fall of 50 to 80 points pushing Nifty Futures near 5800.
• The current trend of Nifty is strongly up hence we recommend to buy near 5800 or above 5950 with proper stop loss.
• A current uptrend and the projection of higher values for Nifty Futures will continue till Nifty Futures is trading above 5600 on closing basis.
• The intraday resistance levels for Nifty are placed at 5950 & 6000 where as the intraday support levels are placed at 5880 & 5830 respectively.