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Nifty 50 February Futures (8,742)
The Nifty futures started the session on a positive note by opening at 8,744.9. After registering an intra-day high of 8,763.9, the contract started to decline. It fell below the immediate support level of 8,740 and marked an intra-day low of 8,725 levels. The contract is volatile and is vacillating between positive and negative territory. The market breadth (advance/decline ratio) is even for the Nifty 50 index. Traders with a short-term view should desist taking any fresh positions as the contract continues to trade volatile. Immediate support is at 8,740 and a slip below this level can find support at 8,725 levels. Next important support is placed at 8,700 levels. On the other hand, key resistances are at 8,775 and 8,790 levels.
Strategy : Desist trading for the session
Supports : 8,740 and 8,725
Resistances : 8,775 and 8,790
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