Markets

The Nifty Call

Yoganand D BL Research Bureau | Updated on November 25, 2017 Published on July 02, 2014

Nifty July Futures (7,731)

Nifty futures contract made a gap up opening at 7,709, breaching the key resistance level of 7,700. The contract has been hovering around 7,700 levels which is now acting as a significant support level.

The near-term trend for Nifty futures contract is up. Only a strong fall below 7,700 will alter the bullish stance and drag the contract down to 7,680 or 7,660.

Therefore, traders with a short-term perspective can buy the contract with a stop-loss at 7,700. Targets are 7,747 and then 7,775.

Strategy: Buy the contract with a stop-loss at 7,700.

Supports: 7,680, 7,660 and 7,635.

Resistances: 7,747 and 7,775.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on July 02, 2014
null
This article is closed for comments.
Please Email the Editor