Comments
Nifty December Futures (7,935)
The Nifty futures contract is trading volatile today. The contract surged to an intraday high of 7,990.90 after opening the day at 7,929.05. However, it has reversed lower from this high giving up almost all the gains made during the day.
A fall to test the key intraday support at 7,900 looks probable. This support is likely to hold through the day. A reversal from this support can take the contract up again to 7,950 or even higher.
Traders can wait for dips and go long at 7,910. Stop-loss can be kept at 7,885 for the target of 7,945.
The outlook will turn bearish if the contract declines below 7,900. Such a fall can drag the contract lower to 7,880 and 7,855 thereafter.
Strategy : Go long on declines to 7,910 with a stop-loss at 7,885
Supports : 7,900, 7,880
Resistances: 7,950, 7,990
Comments
COMMENT NOW
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.