Nifty future for month of June 2016, has major pivot support at 8040. Above it outlook as well as trading strategy will remain buy and accumulate. On upside nifty June 2016 resistance levels as well as targets are 8380 and 8560. Weekly closing below 8040 means breakdown and fresh downcycle for nifty future. Below 8040, nifty has support levels at 7850 and then 7520. These will be target levels if nifty slips below 8040. Current nifty chart price pattern suggesting nifty might test 8040 levels then decide to move up or down.