Nifty 50 April Futures (7,710)
The Nifty 50 futures contract is trading on a mixed note and is hovering around 7,700 levels. It is range-bound between 7,689 and 7,725. However, charts signal a positive bias.
The intraday price action shows that there is lack of strong selling interest in the market to drag the index futures below 7,700. Immediate resistance is at 7,725. A strong break above it can take the contract higher to 7,750 and 7,780.
Short-term traders with high risk appetite can go long. Stop-loss can be kept at 7,675 for the target of 7,775. Intraday dips to 7,700 and 7,690 can be used to accumulate longs.
Supports for the contract are at 7,680 and 7,660.
Strategy : Go long with a stop-loss at 7,675
Supports : 7,680, 7660
Resistances : 7,725, 7,750