Nifty June Futures (7,648)
After a gap up opening, nifty futures extended its gains and registered an intra-day high at 7,681.9 levels.
Thereafter, it started witnessing some selling pressure and gave away some of its intra-day gains. It is now hovering above a key support at 7,624.
The near-term outlook remains bullish as long as Nifty futures holds above 7,624 levels. Traders can go long with a stop-loss at 7,624. Nifty futures can re-test its intra-day high at 7,681 in the afternoon session.
However, a fall below 7,624 can negate this view and pull Nifty futures down to 7,600 and then to 7,560 levels. Key resistance above 7,681 is at 7,700 levels.
Strategy : Can go long with a stop-loss at 7,624.
Supports : 7,624, 7,600 and 7,560.
Resistances : 7,681 and 7,700.