4th Jan: 6000 – 5980: Support Zone for Nifty Futures

• Nifty closed at 6040 which is 4 points higher than its previous close of 6036.
• Nifty Futures was not able to reach at 6090 and intraday high was seen at 6058 after which Nifty Futures remained subdued till closing.
• The intraday corrective trend may halt in the zone of 6000 to 5980 which is the immediate support.
• On the higher side, the level of 6090 is likely to provide strong resistance, hence caution is recommended.
• The trading volumes are still on the lower side indicating lack of mass participation in the current rally started from 5850.
• 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 5700, the current intermediate trend is positive.
• The intraday resistance levels for Nifty are placed at 6060 & 6090 whereas the intraday support levels are placed at 6010 & 5980 respectively.