Nifty 50 March Futures (7,680)
The Nifty 50 futures contract is trading on a positive note ahead of the expiry tomorrow. The contract opened with a gap up at 7,674 and made an intraday high of 7,689. Immediate support is at 7,675 and then a key intraday support is at 7,650 which is limiting the downside for the contract as of now. A rise 7,710 and 7,725 looks likely. Further break above 7,725 can take the contract to 7,750 or even higher.
Traders with a short-term perspective can go long. Stop-loss can be kept at 7,645 for the target of 7,725. Intermediate dips to 7,650 can be used to accumulate long positions.
The intra-day outlook will turn negative if the contract falls below 7,650. The next targets will be 7,620 and 7,600.
Strategy : Go long with a stop-loss at 7,645
Supports : 7,650, 7620
Resistances : 7,725, 7,750