Nifty July Futures (7,731)
Nifty futures contract made a gap up opening at 7,709, breaching the key resistance level of 7,700. The contract has been hovering around 7,700 levels which is now acting as a significant support level.
The near-term trend for Nifty futures contract is up. Only a strong fall below 7,700 will alter the bullish stance and drag the contract down to 7,680 or 7,660.
Therefore, traders with a short-term perspective can buy the contract with a stop-loss at 7,700. Targets are 7,747 and then 7,775.
Strategy : Buy the contract with a stop-loss at 7,700.
Supports : 7,680, 7,660 and 7,635.
Resistances : 7,747 and 7,775.