4th Oct: Nifty Futures inching towards 5800

• Nifty Futures closed at 5768  which is  14 points higher from its previous close of 5754.
• Nifty Futures crossed earlier intermediate of 5766 and formed intraday high at 5773 continuing the ongoing uptrend.
• For last four trading sessions, Nifty Futures is consistently forming higher top - higher bottom and is now heading towards 5800 mark .
• Though, Nifty Futures is in overbought territory, the earlier sign of weakness will be seen below initial support level of 5700.
• The breakdown of 5700 will push Nifty Futures downwards in the zone of 5600 - 5550. 
• The current rally is likely to continue if a strong closing is seen above 5830 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 5740 & 5700 respectively.