- Nifty Futures closed at 5467 which is 46 points higher than its previous close of 5461.
- Nifty Futures tested the important resistance of 5515 as intraday high was seen at 5527 but closed below 5500 levels.
- As long as Nifty Futures stays below 5530, a corrective trend may be seen testing 5400 mark.
- Immediate strong support zone for Nifty Futures is placed between 5400 – 5370 from where again bounce back may be seen.
- A level of 5350 is a crucial support below which Nifty Futures may slide 100 points down near 5250 levels.
- The short term RSI on daily chart is in oversold territory and indicating continuation of bounce back from above mentioned zone of 5400 - 5370.
- If Nifty Futures is able to close above 5530, next target is placed at 5600.
- As long as Nifty trades below 5900 on weekly closing basis, the current intermediate trend will be in downward direction.
- The intraday resistance levels for Nifty Futures are placed at 5490 & 5530 where as the intraday support levels are placed 5420 & 5370 respectively.
