29th June: Nifty Futures needs to break 5200 for fresh rally

• Nifty Futures closed at 5149 which is just 9 points higher than its previous close of 5140.
• For past 2 trading sessions Nifty Futures is not able to breach 5160 and closing just below this level.
• On daily charts double top structure is seen at 5200 levels hence Nifty Futures needs to break it for fresh rally.
• After the upward breakout Nifty Futures is likely to enter in the zone of 5200 - 5350.
• The earlier signs of weakness would be seen once it breaches and trades below 5090 level.
• The trend reversal level is maintained at 5020below which sharp sell off may be seen.
• The timing cycle is indicating upward breakout of 5150 on weekly charts and strong momentum may be seen till it holds the level of 5020.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5180 & 5230 and support levels are placed at 5090 & 5050 respectively.

28th June: 5200 to provide resistance for Nifty Futures

• Nifty Futures closed at 5140 which is 14 points higher than its previous close of 5126.
• Range bound movement of 40 points was seen in Nifty Futures between 5160 and 5120 levels.
• Nifty Futures is likely to test the initial resistance level of 5200 but the breakout is placed at 5200 on closing basis.
• On daily chart the trend line support for Nifty Futures is placed at the level of 5100.
• In case of Nifty Futures breaching the level of 5100 - 5090 next support is placed at 5050.
• The current consolidation is likely to end in next 2 trading sessions and fresh rally is expected from beginning of next week.
• The timing cycle is indicating upward breakout of 5150 on weekly charts and strong momentum may be seen till it holds the level of 5020.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5180 & 5230 and support levels are placed at 5090 & 5050 respectively.

27th June: Nifty Futures trading range of 5200 - 5050 till expiry

• Nifty Futures closed at 5126 which is 17 points higher than its previous close of 5109.
• Nifty Futures traded in a small range of 50 points between 5140 - 5090 throughout the day with lower trading volumes.
• For last 4 consecutive trading days the level of 5090 is providing support to Nifty Futures and is now important support level.
• If Nifty Futures breaches 5090 then next support is placed at 5020 which is also a trend reversal level.
• If any intraday bounce back is seen the level of 5160 may provide strong resistance..
• The upward breakout for Nifty Futures is placed at 5200 and after that it is expected to cross 5300 levels.
• The timing cycle is indicating upward breakout of 5150 on weekly charts and strong momentum may be seen till it holds the level of 5020.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5160 & 5200 and support levels are placed at 5090 & 5020 respectively.

26th June: 5200 providing strong resistance ahead of expiry

• Nifty Futures closed at 5109 which is 42 points lower than its previous close of 5151.
• Market opened near 5160 and rallied till 5200 but was not able to sustain and closed in negative territory.
• On daily chart a triple bottom structure is seen near 5090 which is a crucial support to watch.
• The break down of 5090 will see a selling pressure ahead of fno expiry towards the support of 5050.
• Nifty Futures needs to maintain the trend reversal of 5020 and below this level a sharp slide may be seen pushing it towards 4960 levels.
• To regenerate the upward momentum Nifty Futures will have to surpass and sustain above 5190.
• The timing cycle is indicating upward breakout of 5150 on weekly charts and strong momentum may be seen till it holds the level of 5020.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5150 & 5190 and support levels are placed at 5090 & 5050 respectively.

25th June: Weekly close of Nifty Futures at 5150

• Nifty Futures closed at 5151 which is 23 points lower than its previous close of 5174.
• Though Nifty Futures opened with 63 points downward price gap, it managed to recover the losses and intraday high was seen at 5167.
• Nifty Futures is likely to test 5235 and next target is placed at 5300.
• On weekly chart 3rd consecutive positive closing is seen suggesting 5300 is in the near vicinity. 
• Long positions are recommended in Nifty Futures with a stop loss of 5020 for initial target of 5300.
• The volume pattern on the daily charts is indicating high volumes in the uptrend and thus suggesting strength in the current uptrend.
• The timing cycle is indicating upward breakout of 5150 on weekly charts and strong momentum may be seen pushing the Nifty Futures in northward direction.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.

21st June: Important levels for Nifty Futures 5150(Breakout) and 5020(Breakdown) CL

• Nifty Futures closed at 5122 which is just 11 points higher than its previous close of 5111.
• For 3rd consecutive day Nifty Futures closed in positive territory but yet to breach 5150.
• If Nifty Futures is able to surpass the level of 5150 convincingly then next resistance is placed at 5235 level.
• The immediate support for Nifty Futures is placed at 5080 and crucial support is at 5020 below which the uptrend may fizzle out.
• Previous weekly close was also seen near 5150 hence Nifty Futures needs to surpass this level for continuing the positive movement.
• But if the level of 5020 is breached then next support is placed at 4960 levels.
• The short term trend reversal is seen on timing cycle day on 18th June with a target near 4950 level and to avoid this Nifty futures needs to surpass 5200 level.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5150 & 5200 and support levels are placed at 5080 & 5020 respectively.

15th June: Nifty Futures is likely to test support zone of 5000 - 4950

• Nifty Futures closed at 5054 which is 69 points lower than its previous close of 5123.
• For 3rd consecutive day Nifty Futures attempted to cross 5150 but was failed and closed near 5050 levels.
• Now the important support zone to watch is placed between 5000 - 4950.
• The level of 5100 will provide strong resistance if any intraday bounce back is seen.
• Previous weekly close is seen at 5059 and current weekly close above this level may keep upward momentum intact.
• The short term trend reversal is placed at 4900 which is 62% retracement level.
• Next timing cycle day analysis is showing 18th June as trend direction or trend reversal day.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5120 & 5080 and support levels are placed at 5020 & 4960 respectively.

14th June: Nifty Futures to stay in a range bound movement between 5100 - 5000

• Nifty Futures closed at 5123 which is just 3 points lower than its previous close of 5126.
• Nifty Futures formed intraday high at 5145 and was not able to breach the crucial resistance level of 5150 through out the day.
• Now trading below 5100 may see slide of around 50 points where the level of 5050 may be tested in intraday.
• On positional basis the support zone is placed between 5000 - 4950 from where fresh rally may be seen.
• For next 2-3 trading sessions Nifty Futures may exhibit range bound movement between 5100 - 5000.
• The short term trend reversal level is revised to 4900 which is also a 62% retracement level.
• Next timing cycle day analysis is showing 18th June as trend direction or trend reversal day.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.

13th June: 200 - EMA at 5160 is immediate resistance for Nifty Futuures

• Nifty Futures closed at 5126 which is 6 points lower than its previous close of 5053.
• Nifty Futures formed intraday low at 5022 immediately after opening but more than 118 points rally was seen in intraday above 5100..
• Nifty Futures is now approaching towards its 200-EMA at 5160 which is likely to0 provide a strong resistance..
• If Nifty Futures is able to surpass 5150 on closing basis then it will test 5200 mark immediately.
• Current low of 5020 is important level to watch as a support and violation of this level may see a testing of 4950 levels.
• A short term RSI on daily chart is still in buying mode but for long trading positions, the stop loss of 5020 is recommended.
• Next timing cycle day analysis is showing 18th June as trend direction or trend reversal day.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5160 & 5200 and support levels are placed at 5070 & 5020 respectively.

12th June: Immediate support zone for Nifty Futures between 5000 - 4950

• Nifty Futures closed at 5053 which is 6 points lower than its previous close of 5059.
• Nifty Futures opened at 5101 and formed intraday high at 5124 but correction pushed it 90 points lower till 5035.
• Nifty Futures is expected to test the initial support of 5000and intraday bounce back may be seen in the range of 5060-5080.
• The strong support zone is placed in the range of 5000 - 4950 where Nifty Futures is likely t reverse the trend in upward direction.
• The current short term trend of Nifty Futures will stay in upward direction till it trades above 4780.
• Nifty Futures is expected to remain in the zone of 5150 - 4900 for some m ore days, in a consolidation state.
• Next timing cycle day analysis is showing 18th June as trend direction or trend reversal day.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5080 & 5130 and support levels are placed at 5000 & 4950 respectively.

11th June: Strong Resistance Zone for Nifty Futures 5100 - 5150

• Nifty Futures closed at 5059 which is 30 points higher than its previous close of 5029.
• Nifty Futures managed to close at 5060 and is now heading towards the positional target of 5100 mark.
• Profit booking is recommended in the zone of 5100 - 5150 which is likely to provide strong resistance as per chartical indication.
• A strong Bullish candle is seen on weekly chart engulfing previous 3 weeks indicating short term trend reversal in the market.
• On the downside, 5000 - 4950 is a strong support zone if any corrective trend is seen.
• Short term trend of Nifty Futures is expected to remain in upward direction till it trades above the level of 4870.
• Next timing cycle day analysis is showing 18th June as trend direction or trend reversal day.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5100 & 5150 and support levels are placed at 5030 & 4980 respectively.

8th June: Weekly closing above 5000 will indicate trend reversal

• Nifty Futures closed at 5029 which is 50 points higher than its previous close of 4979.
• In last 4 trading sessions Nifty Futures traveled 277 points indicating a strong buying interest.
• The positional target remains still at 5100 and the zone of 5100 - 5150 is likely to provide strong resistance.
• The previous weekly close was at 4824 and previous weekly high was seen at 5011 and closing above 5000 will indicate trend reversal.
• The immediate support is placed at 4990 and the next support is at 4930 in case any corrective movement is seen.
• The short time RSI on daily chart is in positive move and supporting the current movement till 5100 levels.
• The short term trend of Nifty Futures will stay positive till the time it trades above 4870 levels.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5060 & 5100 and support levels are placed at 4990 & 4930 respectively.

7th June: Closing of Nifty Futures above 4920

• Nifty Futures closed at 4979 which is 133 points higher than its previous close of 4846.
• Nifty Futures opened with 36 points upward price gap and rallied throughout the day to test intraday high at 4989 levels.
• Nifty Futures not only managed to surpass crucial resistance of 4920; but also close 50 points above this level; suggesting strong breakout.
• The level of 5020 is an immediate resistance but the positional target remains at 5100 mark.
• The previous weekly high is seen at 5011 and sustaining above this level will indicate beginning of corrective uptrend.
• The earlier resistance of 4920 will now provide strong support if intraday correction is seen.
• The timing cycle day on 6th June is suggesting high probability of temporary bottom formation at 4760.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5060 & 5100 and support levels are placed at 4980 & 4920 respectively.

6th June: Sideways movement seen in Nifty Futures with crucial support at 4800

• Nifty Futures closed at 4846 which is just 5 points higher than its previous close of 4841.
• After opening, Nifty Futures moved upwards but was not able to breach 4880 and intraday low was seen at 4822.
• Till Nifty Futures trades below 4920, short term trend will remain in downward direction with a risk of extending the losses.
• The crucial support is placed at 4800 below which fresh downtrend may be triggered in Nifty Futures.
• Strong bearish candle of previous week is having negative impact on charts and will be visible once Nifty Futures breaches 4800 mark .
• Trading long positions are recommended only if Nifty futures closes above 4920 levels.
• The Timing cycle day is showing 5th - 6th June for indicating the trend direction or trend reversal.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.
• The intraday resistance levels for Nifty Futures are placed at 4880 & 4920 and support levels are placed at 4800 & 4750 respectively.

Sector Trend Reader

5th June: Nifty Futures needs to sustain above 4900 to avoid further losses

• Nifty Futures closed at 4841 which is 16 points higher than its previous close of 4825.
• Nifty Futures breached earlier low of 4767 forming intraday low at 4760 in morning session, but recovery in intraday pushed it above 4825.
• Current corrective uptrend will face immediate resistance at 4900 levels and Nifty Futures needs to sustain above this level for avoiding further losses.
• Though the earlier signal of reversing the short term trend is above 4900, the intermediate level is placed at 4950 for its confirmation.
• On the downside the crucial support is placed at 4780 and breakdown of this level will push Nifty Futures downwards near 4700.
• The short term RSI on daily chart is still in negative territory and suggesting avoiding any bottom fishing at current levels.
• The Timing cycle day is showing 5th - 6th June for indicating the trend direction or trend reversal.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.
• The intraday resistance levels for Nifty Futures are placed at 4870 & 4920 and support levels are placed at 4810 & 4780 respectively.

4th June: Weekly Closing suggesting strong bearish trend

• Nifty Futures closed at 4825 which is 99 points lower than its previous close of 4924.
• In last 4 trading sessions, Nifty futures lost 196 points and now approaching the current bottom of 4767.
• The breach of 4750 on closing basis may push Nifty Futures towards its December 2011 bottom near 4600.
• Nifty Futures lost 94 points week on week basis with appearance of strong bearish candle on weekly chart.
• The level of 4750 is showing a double bottom structure on weekly charts and its breakdown may create panic selling in the market towards 4600.
• Now the level of 4880 - 4900 will provide a strong resistance if any bounce back is seen.
• Timing cycle day is showing 5th - 6th June for indicating the trend direction or trend reversal.
• The intermediate trend of Nifty Futures is in downward direction and reversal will be confirmed above 5300 levels on closing basis.
• The intraday resistance levels for Nifty Futures are placed at 4830 & 4880 and support levels are placed at 4770 & 4700 respectively.