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.