Comments
Nifty September Futures (8,030)
The Nifty futures contract is losing steam. The contract opened with a gap down at 7,993 and rose to record an intraday high of 8,068. However, the contract had failed to sustain at higher levels and has reversed lower from this high. This pullback move can extend further now. A dip to 8,000 and 7,970 looks possible now.
Traders with a short-term perspective can go short. Stop-loss can be kept at 8,055 for the target of 7,980.
Key intra-day support is at 7,970. A break below it can drag the contract lower to 7,945. On the other hand, a reversal from there will take the contract back higher to 8,050 levels. Resistance is at 8,060 and a strong break above this hurdle can take the contract higher to 8,100 thereafter.
Strategy : Go short with a stop-loss at 8,055
Supports: 8,000, 7,970
Resistances : 8,060, 8,100.
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.