The Nifty futures contract is trading on a mixed note. The contract lacks momentum as it has failed to break above 8,200 despite multiple attempts to surpass this level on Thursday. The down move today from the high of 8,191 is quite sluggish too. This price action since Thursday reflects indecisiveness.
Immediate support is at 8,160. A break from this level can drag the the contract lower to 8,135 and 8,100. On the other hand, an upward reversal from 8,160 can keep the contract inside the 8,160-8,200 range for some time.
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