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.

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Published on July 02, 2014
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