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Nifty 50 December Futures (10,428)
The Nifty December futures started the session on a positive note, opening at 10,425, taking cues from the bullish US markets. The Asian markets were showing mixed signals today, with the Nikkei 225 falling by 33 points or 0.15 per cent to 22,868, while the Hang Seng index gained 211 points or 0.73 per cent to 29,261.
Both the Nifty and Sensex began the session on a positive note and continued to hover in the positive territory. The Nifty futures recorded an intra-day high of 10,438 and a low of 10,412. Market breadth of the Nifty index is biased towards advances. The short-term outlook will remain positive as long as the contract trades above 10,410.
Traders with a short-term view can buy the contract in dips with a stop-loss at 10,405. Key supports below 10,410 are at 10,400 and 10,375. Resistances are placed at 10,440 and 10,460 levels. Next resistances above 10,560 are at 10,475 and 10,500 levels.
Strategy : Buy the contract in declines with a stop-loss at 10,405 levels.
Supports: 10,410 and 10,400
Resistances : 10,440 and 10,460
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