Comments
Nifty April Futures (8,690)
The Nifty Futures contract is trading weak. It recorded a high of 8,724.95 during the start of the session but reversed lower thereafter. The inability to sustain above 8,700 levels signals weakness and lack of buying interest. The upside could be limited and any intermediate rally is likely to attract fresh sellers in the contract.
Supports are at 8,665 and 8,650 which are likely to be tested today. A further break below 8,650 can drag the contract lower to 8,630 and 8,600 thereafter. Resistances are at 8,700 and 8,735.Traders with a short-term perspective can go short. Stop-loss can be placed at 8,725 for the target of 8,655.
Strategy : Go short with a stop-loss at 8,725
Supports : 8,665, 8,650
Resistances : 8,700, 8,725
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.