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Nifty October Futures (8073) In line with the Asian markets, the Nifty futures started the session on a positive note, opening at 8,081 from the previous close of 8,040 levels. This upward gap is not filled as the contract reversed higher after marking an intra-day low at 8,057 levels. A fall below this level can drag the contract down to 8,040 and then to 8,010 levels. Therefore, traders with a short-term perspective should tread with caution and initiate fresh short positions on such a fall with a stop-loss at 8,065. On the other hand, the upside is limited to resistance at 8,084. A rally above 8,084 can take the contract higher to 8,100.
Strategy: Initiate short positions on a decline below 8,057.
Supports: 8,057 and 8,040
Resistances: 8,085 and 8,100
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