Comments
Nifty October Futures (7,950)
The Nifty futures contract opened with a huge gap up on Thursday at 7,936. Although the contract reversed lower after recording a high of 7,983, this pull-back lacks momentum. Intraday support for the contract is at 7,925, which can limit the fall. The outlook for the contract is bullish.
A reversal from 7,925 can take the contract higher to test its resistance at 7,985. A strong breach of this level can take the Nifty futures contract to the next target of 8,010.
Traders can go long at current levels with a stop-loss at 7,915 for the target of 8,000.
The bullish outlook will get negated if the contract declines below 7,925. It can then target 7,900 and 7,885.
Strategy: Go long with a stop-loss at 7,915
Supports: 7,925, 7,900
Resistances: 7,985, 8,010
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.