25th June: Short Selling level for Nifty Futures @ 5700

• Nifty Futures closed at 5588 which is 74 points lower than its previous close of 5662.
• Nifty Futures opened with 34 points downward price gap at 5628 and selloff in intraday pushed Nifty below 5600 to form day’s low at 5557.
• Nifty Futures is consistently forming lower top – lower bottom and now headed towards the intermediate level of 5500.
• Bounce back near 5700 in intraday will attract strong selling pressure and again the downtrend is likely to continue.
• Short selling can be initiated in the range of 5680 & 5700 with the stop loss of 5770 and targets of 5575 & 5525 respectively.
• The 200 Days EMA at 5776 is a strong resistance level and high trading volumes in the current fall indicates caution till June expiry as sell off is likely to continue.
• We do not recommend any bottom fishing as trend of Nifty is still in the downward direction without any trend reversal indications.
• As long as Nifty Futures trades below 6000 on weekly closing basis, the current intermediate trend will be in downward direction.
• The intraday resistance levels for Nifty Futures are placed at 5660 & 5700 where as the intraday support levels are placed 5550 & 5500 respectively.

21st Jun: Immediate Target 5550 for Nifty Futures

• Nifty Futures closed at 5648 which is 174 points lower than its previous close of 5823.
• Nifty Futures opened with downward price gap of 73 points at 5750 which was the day’s high followed by strong selloff.
• Now, as the Nifty Futures has breached the earlier bottom of 5692, and now heading towards 5550.
• Nifty Futures lost 228 points in past 3 trading sessions with high trading volumes suggesting downward momentum to continue for sometime..
• Now, the level of 5700 and above that 5750 will provide a strong resistance if any bounce back is seen.
• As Nifty Futures is now trading below 200 – Days EMA, now the next crucial level is placed at 5500.
• If any bounce back is seen near 5700, short selling can be initiated with the stop loss of 5760 and target of 5550.
• As long as Nifty Futures trades above 5700 on weekly closing basis, the current intermediate trend will be in upward direction.
• The intraday resistance levels for Nifty Futures are placed at 5670 & 5700 where as the intraday support levels are placed 5600 & 5550 respectively.

19th June: Hold short positions in Nifty Futures with stop loss of 5900 (CL)

• Nifty Futures closed at 5812 which is 36 points lower than its previous close of 5848.
• Nifty Futures continued its bounce back and formed intraday high at 5868 but fell near 5800 at the closing session.
• Sustaining below 5800 will push Nifty Futures down near crucial support level of 5760.
• A sharp slide may be seen after breakdown of 5760 with the target of 5650.
• Nifty Futures will move near 6000 only in case of closing above 5900.
• The stop loss for short selling positions is still maintained at 5900 levels on closing basis as the trend is still dicey. 
• We do not recommend any fresh trading buying positions as Nifty Futures is still in fragile stage.
• As long as Nifty Futures trades above 5700 on weekly closing basis, the current intermediate trend will be in upward direction.
• The intraday resistance levels for Nifty Futures are placed at 5840 & 5880 where as the intraday support levels are placed 5760 & 5700 respectively.

7th June: Stop loss 6050 for short selling positions

• Nifty Futures closed at 5937 which is just 1 point lower than its previous close of 5938.
• Nifty Futures breached 5900 level in intraday and formed low at 5878 but again closed above 5900 mark.
• Still, the level of 6000 remains as a crucial resistance for the current bounce back as per the daily closing chart of Nifty Futures.
• A level of 6050 can be maintained as stop loss for short selling positions in Nifty Futures in the zone of 5950 - 6000.
• The immediate target for Nifty Futures is placed at 5850 and next target is at 5775 which is 200 - EMA.
• Only in case of closing above 6050, a current downtrend in Nifty Futures will get aborted and upward momentum will be seen.
• We recommend to avoid any long trading positions till Nifty Futures is trading below 6050.
• As long as Nifty Futures trades above 5700 on weekly closing basis, the current intermediate trend will be in upward direction.
• The intraday resistance levels for Nifty Futures are placed at 5950 & 6000 where as the intraday support levels are placed 5900 & 5850 respectively.

6th June: 5950 – 6000: Immediate resistance zone for Nifty Futures

• Nifty Futures closed at 5938 which is 6 points higher than its previous close of 5932.
• Nifty Futures dipped below 5900 forming intraday low 5896 but recovered to close near 5940.
• Retracement resistance levels for Nifty Futures are placed at 5985 and 6010 where again selling pressure will be seen.
• On the downside, 5850 is the immediate target of current fall after breach of 5900 mark.
• The next support level after 5850 is placed at 5775 which is 200 - EMA.
• The short term trend of Nifty Futures will turn in upward direction only if it crosses 6130 level on higher side.
• We recommend to avoid any long trading positions in the market as steep downtrend may be seen in Nifty Futures in the coming days.
• As long as Nifty Futures trades above 5700 on weekly closing basis, the current intermediate trend will be in upward direction.
• The intraday resistance levels for Nifty Futures are placed at 5970 & 6010 where as the intraday support levels are placed 5900 & 5850 respectively.

4th June: Uptrend in Nifty Futures only above 6140

• Nifty Futures closed at 5959 which is 41 points lower than its previous close of 6000.
• After opening Nifty Futures continued its downtrend and formed the intraday bottom at 5925.
• Nifty Futures dipped below previous bottom 5936 in intraday but managed to close above this level.
• If the current bottom breached again then the next immediate support is placed at 5900 which is 100 Days EMA.
• If the fall is continued further then the next support is placed at 5850 which is trend line and 50% retracement support.
• On the higher side, 6050 – 6100 is immediate resistance zone and intraday bounce back may be halted in this zone.
• Nifty Futures has to cross 6140 to continue uptrend.
• We recommend to avoid any long trading positions in the market as steep downtrend may be seen in Nifty Futures in the coming days.
• As long as Nifty Futures trades above 5700 on weekly closing basis, the current intermediate trend will be in upward direction.
• The intraday resistance levels for Nifty Futures are placed at 6010 & 6050 where as the intraday support levels are placed 5900 & 5850 respectively.