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Nifty October Futures (8152)
The Nifty October futures started the derivatives expiry session on a negative note at 8,082, down from its previous close of 8,089.
Subsequently, the contract commenced an up move and breached its immediate resistance at 8,120. The contract is currently in a strong rally and near-term outlook is also bullish. Traders with a short-term perspective can hold their long positions and buy the contract on dips with a stop-loss maintained at 8,120 levels. Targets are 8,180 and 8,200 levels. But, a fall below the immediate support at 8,120 can pull the contract down to 8,100 and then to 8,080 levels. On such a fall, desist from trading in the contract.
Strategy : Buy in declines with a stop-loss at 8,120.
Supports : 8,120 and 8,100
Resistances : 8,180 and 8,200
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