3rd Aug: Immediate Support zone of 5200 - 5170 for Nifty Futures

• Nifty Futures closed at 5247 which is just 9 points lower than its previous close of 5256.
• Nifty futures moved in a narrow range of 31 points between 5253 and 5222 throughout the day with lower trading volumes.
• Nifty Futures is expected to test the resistance level of 5300 where partial profit booking is recommended in long trading positions
• On the downside the immediate support zone is placed between 5200 - 5170 for Nifty Futures.
• The previous weekly close was seen at 5123 and Nifty Futures is now trading around 130 points above this level showing upward momentum.
• In case of market closing above 5310 the next resistance is placed at 5360 which is intermediate high on daily charts.  
• The short term trend reversal level of Nifty Futures is placed at 5300 above which the trend would turn in positive direction.
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 4990 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5300 & 5360 and support levels are placed at 5220 & 5170 respectively.