Nifty June Futures (7,339)
Nifty futures opened on a positive note and continued to move higher, breaching the key resistance level at 7,300. However, it is facing resistance at 7,350 and is currently moving around this level.
Traders can hold their long position as long as the contract trades above 7,322 with a stop-loss at this level. Strong move above 7,350 will reinforce bullish momentum and take the contract higher to 7,375 levels.
But, fall below 7,322 will be the cue for going short with the target of 7,300 or 7,285 levels.
Strategy : Hold your long position with stop-loss at 7,322.
Supports : 7,322, 7,300 and 7,285.
Resistances : 7,350, 7,375 and 7,400.