9th July: Nifty Futures likely to test 5400 mark in the current week

• Nifty Futures closed at 5327 which is 18 point lower than its previous close of 5345.
• Nifty Futures refused to surpass 5350 mark and moved in the 40 points range between 5340 & 5300.  
• The chart of Nifty Futures is indicating that the fresh uptrend will be accompanied with gap up opening above 5350.
• On the weekly chart, 5th consecutive positive closing was seen with 30 points gain on week on week basis. 
• If Nifty Futures able to surpass 5350 mark then the target is placed between 5400 - 5450 on positional basis. 
• On the downside, if Nifty Futures breaches and sustains below 5300 mark then next important support is placed at 5250.
• The trend reversal of current uptrend is placed at 5090 levels on closing basis.
• 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 5350 & 5400 and support levels are placed at 5300 & 5250 respectively.