Comments
Nifty May Futures (7,300)
After opening on a flat note, the Sensex and the Nifty experienced selling pressure and declined even as the expiry of May derivative contracts dominated trading. The Nifty futures is currently down 31 points hovering above the support at 7,285. Some buying interest is evident. Traders can consider going long in this contract with a stop-loss at 7,295. If Nifty futures sustains above 7,300, it can climb higher to 7,320 and then to 7,340. However, expect volatility to continue and sharp swings are possible towards the end of the session.
On the other hand, a fall below 7,295 level will negate the positive view. In this scenario, a break of its next support at 7,285 is possible and it can reach 7,250.
Strategy : Consider long position with a stop-loss at 7,295 levels.
Supports : 7,285, 7,250
Resistances : 7,320, 7,340 and 7,385.
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.