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.