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Nifty September Futures (8,131)
The Nifty futures contract opened slightly lower on Tuesday at 8,143.7. The contract has reversed downward after recording a high of 8,164. The immediate outlook weak for the contract has turned weak following its inability to hold on to its gains. Intra-day resistances are at 8,145 and 8,170. There is a strong probability of the Nifty futures contract falling to 8,100 in this session.
Traders can go short with a stop-loss at 8,155 for the target of 8,100.
Significant intra-day support is at 8,100, a break below which can take the contract further lower to 8,070. On the other hand, a reversal from this support can take the Nifty futures contract higher to 8,145.
Strategy: Go short with a stop-loss at 8,155
Supports: 8,100, 8,070
Resistances: 8,145, 8,170
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