NIFTY FUTURE PREDICTION FOR MONDAY 23-JUNE-2014

Range bound movement was witnessed by nifty future on Friday. Nifty future moved between the range of 7515-7575.Nifty futures opened  at a 7556 made a high of 7578 and low of 7511 and closed at 7525, total 67 points was moved by nifty future. The index looks poised for a bounce back on Friday’s session even if it closed weaker. Now, we have clearly seen that the support levels between 7510 and 7535 working pretty well. 

We have noted earlier that unless the levels between 7510 and 7480 give way, there isn’t much to worry about it either. The range bound situation continues. However, we still don’t rule out a positive break out above 7700-level shortly. For Monday expected levels for nifty future will be 7545-7575.nifty future will move in this range and if it will face any down fall then 7510-7485 will be proved as a very good supporting levels for nifty future.

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RESISTANCE: 7545, 7565, 7585

SUPPORT:  7525, 7505, 7485