The Nifty 50 futures contract is range-bound between 8,945 and 8,990 today. The outlook is positive.
Key intraday support lies between 8,960 and 8,950. As long as the contract trades above this support zone, it can move up to test the psychological 9,000 levels. A strong break above 9,000 can take it higher to 9,035.
Traders with a short-term perspective can buy on dips near 8,960 with a tight stop-loss at 8,940 for the target of 9,000.
The intraday outlook will turn negative if the index futures decline below 8,950. Subsequent targets will be 8,920 and 8,900.
Strategy : Go long on dips near 8,960
Supports : 8,950, 8,920
Resistances : 9,000, 9,035