20th March: Closing below 5800 indicates high probability of free fall in Nifty Futures

• Nifty Futures closed at 5752 which is 43 points lower than its previous close of 5851.
• Nifty Futures lost 134 points in intraday from the high of 5870 and the bottom was seen at 5737.
• The closing below 5800 in Nifty Futures is making it vulnerable for continuation of the current downtrend.
• Nifty Futures is likely test the immediate bottom of 5680 and any gap down fall below this level is a strong bearish signal on the chart.
• At the same time, if Nifty Futures holds 5650 then a counter trend may be seen up to 5900.
• The immediate resistance for Nifty Futures is placed near 5800 where again selling pressure may be seen.
• Next timing cycle day is placed on 25^th / 26^th March which will help to confirm trend direction.
• As long as Nifty trades below 6000, the current intermediate trend will be in downward direction.
• The intraday resistance levels for Nifty are placed at 5790 & 5830 where as the intraday support levels are placed at 5700 & 5650 respectively.