Nifty December Futures (8,260)
The Nifty opened with a strong upward gap for the second consecutive day. The contract opened at 8,237 and recorded a high of 8,274.
Reversal from this intra-day high found support at 8,235 and the contract is moving higher again. The outlook is positive while the contract trades above 8,235. A rally to test the next resistance at 8,290 and 8,315 looks likely in the coming sessions.
Traders with a short-term perspective can go long. Stop-loss can be kept at 8,230 for the target of 8,300.
The intra-day outlook will turn negative if the contract declines below 8,235. Such a fall can take the Nifty futures contract lower to 8,200.
Strategy : Go long with a stop-loss at 8,310
Supports : 8,235, 8,200
Resistances: 8,290, 8,315
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