Nifty 50 opened with a wide gap-up and is managing to sustain higher. The index is currently trading at 25,091, up 0.35 per cent. The advances/declines ratio is at 34:16. This is positive.
Nifty 50 Outlook
The outlook is bullish. Immediate support is at 25,070. Below that 25,050-25,000 will be the next strong support. Nifty can rise to 25,250-25,300 in the coming sessions.
The near-term outlook will turn negative only if the index declines below 25,000. If that happens, a fall to 24,930-24,900 can be seen.
Nifty 50 Futures
The Nifty 50 June Futures (25,178) is up 0.32 per cent. Immediate support is around 25,120. Below that 25,050 is the next important support. The outlook is bullish. We can expect the contract to see a rise towards 25,500 this week.
The contract has to fall below 25,050 to turn the near-term view negative. In that case, a fall to 24,900 can be seen. But looking at the price action on the chart, this fall looks unlikely.
Trade Strategy
Although the outlook is bullish, there are chances to see a dip to test the support before rising back again. So, a positional trade would be better instead of an intraday trade. Go long now at 25,178. Accumulate on dips at 25,130 and 25,080 (if we get a fall below 25,100). Keep the stop-loss at 24,960. Trail the stop-loss up to 25,220 as soon as the contract goes up to 25,270. Move the stop-loss further up to 25,320 and 25,400 when the contract touches 25,370 and 25,440 respectively. Exit the longs at 25,500.
Please note that this is a positional trade with a time frame of one week.
Supports: 25,120, 25,050
Resistances: 25,400, 25,550
Published on June 9, 2025
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