Nifty Futures heading towards resistance level of 6100 - GEPL Capital

Nifty closed at 6058 which is 81 points higher than its previous close of 5977. Nifty Futures exhibited a strong rally of 82 points in intraday from the low of 5985 up to day's high of 6067.

Nifty Futures was able to pierce the strong resistance level of 6060 and is now moving towards next resistance of 6100.

The important zone to watch is placed between 6100 & 6120 where multiple resistance points coinciding on the daily charts.

A partial profit booking is recommended in long trading positions near 6100 and now the level of 5970 can be treated as revised stop loss for balance positions.

If the level of 5970 is breached downwards then next important supports to watch are 5900 and 5840.

Only in case of closing and sustaining above 6120, the next intermediate level for Nifty Futures is placed at 6200 mark.

The intraday resistance levels for Nifty are placed at 6090 & 6120 whereas the intraday support levels are placed at 6040 & 6000 respectively.

Source : Equity Bulls

Keywords