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.