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Nifty June Futures (7,659)
Nifty futures contract recovered from the negative zone, after marking an intra-day low at 7,610. It is trading in the positive territory but the contract is very volatile. Traders need to tread with caution as long as the contract hovers above 7,635 levels. A fall below this level can pull the contract down to 7,600.
A strong rally above 7,665 will be a signal for going long. The contract can then trend higher to 7,680 and 7,700 levels. The band between 7,635 and 7,665 is a no-trade-zone for the contract.
Strategy : Do not trade in the 7,635 to 7,665 band
Supports : 7,635, 7,600 and 7,580.
Resistances : 7,665, 7,680 and 7,700.
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