19th June: Hold short positions in Nifty Futures with stop loss of 5900 (CL)

• Nifty Futures closed at 5812 which is 36 points lower than its previous close of 5848.
• Nifty Futures continued its bounce back and formed intraday high at 5868 but fell near 5800 at the closing session.
• Sustaining below 5800 will push Nifty Futures down near crucial support level of 5760.
• A sharp slide may be seen after breakdown of 5760 with the target of 5650.
• Nifty Futures will move near 6000 only in case of closing above 5900.
• The stop loss for short selling positions is still maintained at 5900 levels on closing basis as the trend is still dicey. 
• We do not recommend any fresh trading buying positions as Nifty Futures is still in fragile stage.
• As long as Nifty Futures trades above 5700 on weekly closing basis, the current intermediate trend will be in upward direction.
• The intraday resistance levels for Nifty Futures are placed at 5840 & 5880 where as the intraday support levels are placed 5760 & 5700 respectively.