Nifty futures have bounced back nicely from their support level at 10,130 and they have also successfully crossed the downtrend resistance line at 10,220. Therefore Nifty futures can now go and retest the levels of 10,500.
[Bonus Trade] Buy Nifty Futures at 10,350 for Target 10,480 and Stop Loss 10,230.
Nifty futures rally in Oct 2017 was impressive, and the futures may retest 10,130 level on any weakness coming from S&P500 index or local events like Gujarat elections.
Nifty futures are likely to become volatile below 10,200 level, and below 10,130, they will almost immediately test 9900-10,000 level. Large traders can hold Dec 9800 put options as a protection for their long positions.