17th April: Nifty Futures exhibit much awaited breakout above 5650

• Nifty Futures closed at 5696 which is 128 points higher than its previous close of 5568.
• Nifty Futures opened marginally lower at 5562 and rallied 137 points higher in intraday without much correction.
• A much awaited breakout is seen as Nifty Futures closed above 5650 showing a strong bullish candle on daily chart.
• Now, Nifty Futures is heading towards intermediate resistance zone of 5750 – 5775 where profit booking is recommended in trading long positions.
• As Nifty Futures is closed above 200 Days EMA placed at 5680, the current rally is likely to continue for next few trading sessions.
• On the downside, the earlier resistance of 5625 will act as a support if intraday fall is seen.
• Current rally is supported by strong trading volumes indicating testing of 5850 in next few days.
• 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 5730 & 5770 where as the intraday support levels are placed at 5650 & 5600 respectively.  

16th April: Nifty Futures refusing to surpass 5600

• Nifty Futures closed at 5568 which is 33 points higher than its previous close of 5535.
• Nifty Futures opened with 25 points downward price gap at 5510 and moved upwards to form intraday high at 5601.
• Near 5600, again profit booking was seen which dragged Nifty Futures 40 points lower to close near 5560.
• Nifty Futures needs to surpass intermediate resistance of 5620 to continue the bounce back for a target of 5700 – 5750.
• On the downside, 5500 – 5450 is strong support zone which will try to arrest if any slide in Nifty Futures is seen. .
• Breakdown of 5450 will create panic selling in the market with targets of 5370 and 5280.
• We recommend to avoid trading long positions as the intermediate trend is still in downward 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 5600 & 5650 where as the intraday support levels are placed at 5510 & 5480 respectively.  

12th April: Nifty Futures likely to consolidate between 5650 & 5550

• Nifty Futures closed at 5595 which is 31 points higher than its previous close of 5564.
• Nifty Futures moved upwards but failed to cross 5620 and formed intraday high at 5618.
• A level of 5650 is showing multiple resistance on chart hence the consolidation is expected in Nifty Futures in the range of 5650 & 5550.
• On the downside, 5550 is strong support and Nifty Futures needs to stay above 5500 for continuing the current corrective uptrend.
• A previous weekly close was seen at 5572 and the current weekly close above this level will keep the hopes of bulls for rally in next week.
• The short term RSI on daily chart is cut the trigger line and is in buying mode suggesting continuation of corrective uptrend.
• Breakout of 5650 on closing basis will push Nifty Futures towards the next resistance level of 5750.
• 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 5620 & 5660 where as the intraday support levels are placed at 5560 & 5520 respectively.  

11th April: Nifty Futures heading towards 5650

• Nifty Futures closed at 5554 which is 53 points higher than its previous close of 5501.
• After consecutive negative 5 trading sessions, Nifty Futures have closed in a positive territory and showing signs of bounce back.
• Nifty Futures formed bottom at 5480 and 97 points rally was seen in intraday with high at 5577.
• Nifty Futures needs to maintain the level of 5500 and the upward breakout is placed at 5580.
• The immediate target for expected bounce back is placed in the range of 5630 & 5650.
• As per the reversal seen on ‘Timing Cycle Day’, the expected reversal will be confirmed above 5650 levels.
• The short term RSI on daily chart is just below the trigger line and buying signal will be generated after Nifty Futures closes above 5620.
• 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 5580 & 5620 where as the intraday support levels are placed at 5530 & 5480 respectively.  

9th April: 5500: Make or Break Level for Nifty Futures on closing basis

• Nifty Futures closed at 5559 which is 13 points lower than its previous close of 5572.
• Nifty Futures continued the downtrend in a narrow range trading and registered intraday low at 5550.
• Nifty Futures is refusing to turn upwards and trading below 5600 is indicating an inherent weakness in the market.
• The level of 5500 is having strong importance as a crucial support as this is the last defensive line for bulls.
• As per the timing cycle day, placed on 9^th and 10^th April, a reversal is expected which will be confirmed above 5650.
• But if Nifty Futures closes below 5500 then this will be a worrisome sign and sharp selloff will be seen.
• The short term RSI on daily chart is again turned downwards indicating breach of 5650 is necessary for confirming the reversal.
• 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 5600 & 5650 where as the intraday support levels are placed at 5530 & 5500 respectively.  

5th March: Weekly closing of Nifty Futures below 5676 likely to extend fall

• Nifty Futures closed at 5593 which is 95 points lower than its previous close of 5688.
• Nifty Futures opened with 30 points downward price gap at 5658 and tumbled down to close below crucial support level of 5600.
• Nifty Futures is in strong grip of bears and the downtrend is likely to continue with strong pace where its immediate targets are 5560 & 5520 levels respectively.
• On the higher side 5630 – 5640 is initial resistance zone if intraday bounce back is witnessed.
• The short selling positions can be initiated in the zone of 5630 – 5640 with the stop loss of 5700 and targets of 5560 & 5520 respectively.
• The previous weekly close was seen at 5676 and the current weekly close below this level is likely to extend the fall in next week.
• The RSI on daily chart has again turned downward from oversold territory and indicated selling signal on the charts.
• As long as Nifty trades below 5850, the current intermediate trend will be in downward direction.
• The intraday resistance levels for Nifty are placed at 5640 & 5680 where as the intraday support levels are placed at 5560 & 5520 respectively.  

4th April: Crucial Support 5600 for Nifty Futures

• Nifty Futures closed at 5688 which is 79 points lower than its previous close of 5767.
• Nifty Futures opened with 21 points downward price gap at 5746 and tried to move higher in the morning session.
• Nifty Futures formed intraday high at 5763 and a sharp fall was witnessed of nearly 100 points to touch the bottom at 5666.
• Nifty Futures also filled the price gap between 5696 & 5684 seen on the daily chart in the beginning of this month and the closing was also seen below this level.
• Now the immediate support zone is placed at 5650 – 5600 where the current downtrend is expected to halt and sideways movement may be seen.
• Only after breaching 5600 mark on closing basis, the intermediate downtrend is likely to continue.
• On the higher side, 5710 – 5730, may provide strong resistance if bounce back is witnessed.
• 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 5720 & 5770 where as the intraday support levels are placed at 5650 & 5600 respectively.

3rd April: Book trading profits near 5800

• Nifty Futures closed at 5767 which is 40 points higher than its previous close of 5727.
• Nifty Futures tested and closed above the initial target of 5760 forming intraday high at 5773.
• We recommend to book profits in trading long positions near 5800 as this is 50% retracement resistance of the earlier fall.
• On the downside, the 200 Days EMA at 5690 is likely to provide strong support which can be used for reinitiate trading long positions.
• The volumes are on lower side in this uptrend suggesting its corrective nature and just a bounce back of previous fall.
• A sideways movement may be seen between 5800 & 5700 for next few trading sessions.
• Only in case of closing above 5800, Nifty Futures is likely to move up towards the price gap zone of 5860.
• Nifty Futures needs to hold 5600 level for continuing the current bounce back.
• 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 5800 & 5860 where as the intraday support levels are placed at 5730 & 5690 respectively.  

2nd April: Nifty Futures heading towards initial resistance of 5760

• Nifty Futures closed at 5727 which is 13 points higher than its previous close of 5714.
• Nifty Futures extended the gains for the 2^nd consecutive day and formed intraday high at 5743.
• After 5 trading sessions, Nifty Futures managed to close above 200 Days EMA placed at 5690 and now moving towards the initial resistance of 5760.
• If Nifty Futures is able to close above 5760 then the crucial resistance and 50% retracement level at 5800 is likely to halt the current bounce back.
• Now, the zone of 5690 – 5670 is likely to provide a strong support if any downtrend is seen in intraday.
• The short term RSI on daily chart is at the verge of cutting the trigger line in upward direction and suggesting 5800 to be tested soon.
• Nifty Futures needs to hold 5600 level for continuing the current bounce back.
• 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 5760 & 5800 where as the intraday support levels are placed at 5700 & 5650 respectively.