The Nifty 50 futures contract is getting support around 8,900. Technically the contract is retaining its 8,870-9,020 sideways range for more than a week now. A breakout on either side of this range will decide the next move for it.

Traders can stay out of the market until the breakout happens.

Within the range, the contract is currently moving higher from the lower end of the range. So there is a strong likelihood of the contract rising to 9,000 in the coming sessions.

A reversal from 9,000 or 9,020 will keep the sideways range intact. But a strong break above 9,020 will boost the bullish momentum. Such a break can take the contract to 9,050 or even higher levels.

The index futures will come under pressure only if it declines below 8,870 decisively. Such a break can drag it to 8,850 and 8,830 thereafter.

Strategy: Stay out of the market

Supports: 8,900, 8,870

Resistances: 8,960, 9,000