The benchmark index Nifty faces resistances at 8415, 8458, 8512 and 8558. Likewise, it has supports at 8316, 8261, 8188 and 8110. It seems more likely that it will reach 8558 rather than 8110 in the current series.
That being said the intra-day traders may go long in Nifty futures if the spot nifty trades above 8427 and unwind their longs when the spot Nifty trades at 8472. On the flip side they may short the Nifty futures if the spot Nifty trades below 8386 to cover their shorts when the spot Nifty is at 8367.
The short-term traders may trade keeping the resistances and supports mentioned in the opening paragraph in their mind and each support if breached will lead the index towards the next support and similarly any resistance conquered will take it towards the next resistance. For specific and precise instant decisions, they may find us handy by subscribing to this post via e mail. It's free yet will help you in taking decisions. We also reply to any buy or sell related doubt you have in mind, if you consider entrusting your doubt on us.
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