Comments
Nifty 50 June Futures (11,896)
Taking bullish cues from the Asian markets, the Sensex and the Nifty commenced the session in positive territory and continued to trend upwards. The Nikkei 225 has gained 1.2 per cent to 21,338 levels and Hang Seng index has also advanced 1.28 per cent to 28,583 in today's session.
The market breadth of the Nifty index is biased towards advances. On the other hand, the India VIX has slumped 3 per cent to 14.30 levels. The buying interest is seen in the Nifty mid and small-cap indices which has advanced 0.47 per cent and 0.5 per cent respectively.
The Nifty futures contract began the session in positive note, opening at 11,876 levels. After marking an intra-day low at 11,867 the contract resumed the uptrend and continued to trend upwards. The contract has recorded an intra-day high at 11,907 levels.
The near-term outlook remains positive as long as the contract trades above 11,865 levels. Traders can buy the contract with a stop-loss at 11,860 levels. A strong rally above 11,910 can take the contract higher to 11,925 and 11,950 levels. Key supports below 11,865 are at 11,850 and 11,830 levels.
Strategy: Buy with a fixed stop-loss at 11,860 levels
Supports: 11,865 and 11,850
Resistances: 11,910 and 11,925
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.