Nifty Futures Analysis- 26June2020

In the above chart, we can see that Nifty futures broke their uptrend around 10,470 and since then they are facing downtrend. They are currently at their short term support level of 10,200 but the downtrend is not over yet, and we can see Nifty futures test the next support at 9950-10,000 level . The next lower support is at 9720, which can also get tested if S&P500 futures starting falling next week.

The above chart indicates weakness in Momentum Indicator (CCI) and the correction is in progress. Nifty Futures Trading Strategy is to wait for this correction to complete and buy Nifty futures for the next rally above 10K level, because Nifty futures are safe above 10K level with targets of 10,500 and 10,800 in the next 4-8 weeks.

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