Comments
Nifty futures contract is trading strong ahead of its expiry today. The contract opened with a gap-up at 8,401 and rose to record an intraday high of 8,459.90.
The overall outlook is bullish. While the contract has come off from its day's high, intraday support at 8,430 is likely to limit the downside. A reversal from this support can take it higher to 8,470. A further break above this level can take it to its subsequent target of 8,500.
Traders can go long. Stop-loss can be kept at 8,415 for the target of 8,485.
The bullish outlook will get negated if the contract falls below 8,430. Such a break can drag it lower to 8,400 during the day.
Strategy: Go long with a stop-loss at 8,415
Supports: 8,430, 8,400
Resistances: 8,470, 8,500
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.