3rd Oct: Nifty Futures moving towards trend line resistance of 5800

• Nifty Futures closed at 5754 which is  24 points higher from its previous close of 5730.
• Nifty Futures opened at 5725 and moved upwards in intraday forming intraday high at 5759.
• Now, after surpassing earlier high of 5766, Nifty Futures is likely to test the trend line resistance of 5800 as shown in the chart.
• The upward momentum I still strong as higher top - higher bottom formation is continued with current bottom placed at 5640.
• Till the level of 5640 is intact, the trend will rem ain in upward direction and below 5640, the next level to watch is 5550. 
• The current rally is likely to continue if a strong closing is seen above 5800 mark.
•  The short term trend of Nifty Futures is positive till it trades above the reversal level of 5550. 
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5780 & 5830 and support levels are placed at 5700 & 5640 respectively.