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Nifty June Futures (8,210)
The Nifty futures contract is continuing to trade strong. The contract opened with a gap-up at 8,181 and surged to a high of 8,227.95. Although the contract has come off this high, the overall outlook remains bullish.
Immediate resistance is at 8,245. A strong break above this hurdle can take the contract higher to 8,275 and 8,300 there after.
Short-term traders can go long. Stop-loss can be placed at 8,180 for the target of 8,265. Intraday dips to 8,200 can be used to accumulate long positions.
Key support for the contract is poised at 8,190. Only a break below this level will put the contract under pressure for a fall to 8,150. But such a break looks unlikely at the moment.
Strategy : Go long with a stop-loss at 8,180
Supports: 8,190, 8,150
Resistances: 8,250, 8,275
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