Market gives good recovery on June expiry and closed above 5600 @ 5638.40 with 2.81% gain.

Nifty future made a high of 5702 levels but cant sustains this level higher level and fell down. For coming day’s nifty future having resistance @ its 50 week ma level of 5710 if it will sustains these levels than next level comes @ 5750-5805.

Support comes @ 5590-5540-5370 for coming week.

Last week markets had a gala time on first four trading sessions but on the last day of the trading session, it almost lost all of its gains to close on a weaker note. On the higher side as of now Nifty could not sustain its major resistance range of 5600-5625. 5625 is the major hurdle for Nifty fut now above which we can expect the trend to continue on the upside for the targets of 5750/5790. 5800 level will be the next major resistance level above the levels of 5625. On the lower side if Nifty fut is able to sustain below 5500 levels we can expect the downtrend to continue and Nifty can correct up to 5445 and 5365.

So, traders can once look to book profits in long positions below 5500 levels and fresh shorts can be built below 5500 levels with a short term perspective.

With the end of this week nifty fell more than 600 points in these 15days of the month and closed @ 5558.90.

Nifty future was not able to maintain itself above 5620 level. For the next week if it maintains above this level then it could go for 5690-5750 levels.

Support for nifty future comes @ 5440 level and if breach this level then it can go for 5390-5350 levels.

Nifty futures crashed last week after breaking the important support level of 5700 and lost more than 250 points signifying a change in trend.  Now short term resistance on the upside is 5600 beyond which it might see some up move of 50-100 points but the trend still remains bearish. Next major important support levels on the downside is 5350 which if not broken Nifty can bounce back otherwise one can expect a big correction if that level is breached up to the levels of 5250,5170,5050.

For coming week nifty having resistance @ 5950 and above this 6020-6090 will be the major higher levels for nifty.

Nifty future major support comes @ 5700 but immediate support comes @ 5850-5790 and 5700.

Last week markets did not have so much to boast of as we had only 3 trading sessions. Nifty fut could not cross the important resistance level of 6000 mark and corrected the handsome gains of Wednesday on Friday. Nifty fut has importance resistance levels of 5975 and 6000 on the upside. If it manages to cross 6000 levels it may try to touch the new high levels again. 5745 is important support resistance levels on the down side which once broken market will have a short term selling pressure and the trend of the market might turn bearish for some time. We recommend you to stay neutral within the range of 5745-6000 and before market breaks the resistance level of 5745 one should look for buying opportunities and should look for short positions only below the level of 5745.