2:10 PM
Nifty Tips
NCDEX Steel Oct contract opened flat at 25200 per tonne against previous close of 25180, made an intraday low at 25200. The contract last traded at 25260 up by 80 rupees after made an intraday high of 25270.
From last few days, Steel prices have traded in a range of 25000-25300. NCDEX Steel future prices are likely to remain sideways for the next few days also.
Support for Steel is seen at 24900 and below that, it could see a test of 24500. Resistance is now likely to be seen at 25500, a move above could see prices testing 25800.
Technically, range for Steel is from 24500-26000. Short term traders can buy NCDEX Oct Steel long contract near 24900 keeping a stop loss of 24650 and waiting for targets of 25300-25500.
From last few days, Steel prices have traded in a range of 25000-25300. NCDEX Steel future prices are likely to remain sideways for the next few days also.
Support for Steel is seen at 24900 and below that, it could see a test of 24500. Resistance is now likely to be seen at 25500, a move above could see prices testing 25800.
Technically, range for Steel is from 24500-26000. Short term traders can buy NCDEX Oct Steel long contract near 24900 keeping a stop loss of 24650 and waiting for targets of 25300-25500.
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