10th July: Strong support zone of 5250 - 5200 for Nifty Futures

• Nifty Futures closed at 5279 which is 48 point lower than its previous close of 5327.
• Nifty Futures opened above 5300 but the weak sentiments kept it below 5300 throughout the day and formed intraday low at 5263.  
• A bearish candle on daily chart is suggesting short term weakness and likely to test 5250 mark.
• Strong support zone for Nifty Futures is placed between 5250 - 5200 from where reversal may be seen in upward direction. 
• Earlier signs of strength of will be seen in Nifty Futures once it starts trading above 5310 and the breakout is placed at 5350 levels. 
• The positional target for Nifty Futures is still maintained in the range of 5400 - 5450.
• The short term trend will remain in upward direction till the time Nifty Futures trades above 5090 which is crucial level to watch.
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5000 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5310 & 5350 and support levels are placed at 5250 & 5200 respectively.