20th Sep: Nifty Futures consolidating between 5650 & 5600

• Nifty Futures closed at 5617 which is 32 points higher from its previous close of 5585.
• Nifty Futures moved in a very narrow range of 30 points between 5632 & 5602 throughout the day with lower trading volumes.
• An upward momentum is still intact on the charts with an expected target of 5700.
• The zone of 5590 to 5530 is likely to provide strong support if any corrective trend is seen and rally is expected to continue. 
• Though the short term RSI on daily chart is entering overbought territory, still it is in a ‘Buy’ mode. 
• Profit booking is recommended above 5700 as multiple resistances are coinciding at this level on the charts..
•  The short term trend of Nifty Futures is positive till it trades above the reversal level of 5230. 
• 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 5650 & 5700 and support levels are placed at 5590 & 5540 respectively.