Nifty 50 June Futures (8,208)
The Nifty futures contract started the session on a flat note at 8,206. After an initial rally to 8,221, the contract started to witness selling pressure and fell. It slipped below the key support level of 8,200 and recorded an intra-day low at 8,190. The contract is in a sideways range in a broad band between 8190 and 8220. Traders should tread with caution as long as the contract trades in this band. An emphatic breakthrough of 8,220 will strengthen the bullish momentum and take the contract higher to 8,240 and 8,262 levels. In such a scenario, traders with a short-term view can initiate long position with a fixed stop-loss. Conversely, a decisive fall below 8,190 can drag the contract down to 8175 and 8,150 levels. Key supports below 8,150 are at 8,130 and 8,100 levels.
Supports : 8,190 and 8,175
Resistances : 8,220 and 8,240