Our #NIFTY and #BANKNIFTY strategy for Today 16-Mar-2016

#. Nifty closed on bear note at 7460.So today on upside first resistance is at 7485-90 level. Further confirmation of trend would arise when price will breakout of this consolidation zone formed between March 2nd to current date.

#. In the derivative market, FII’s bought 553.68 crores of Index futures and bought 873.48 crores worth of Index options. International market is clear in buy mode.

# We have the US FED meeting due on 16th March which is the next big event market is waiting for.

#. Check out weekly report

Intraday NIFTY view:
Trend: Bull
We are Bullish on NIFTY for short term but suggest you please book profit. Follow our (NIFTY POSITIONAL CALLS)

R4 7561 BULL
R3 7519 UP BREAKOUT
R2 7503 UP CAUTION
R1 7493 SELL
PIVOT 7486
S1 7428 BUY
S2 7418 DOWN CAUTION
S3 7403 DOWN BREAK OUT
S4 7361 BEAR

SGX Nifty
7,479.50    Down  -4.00   ( -0.05%)

FII Activity on nifty future:
Index Futures: + 259.69 Crores

FII Activity March 2016 Series – Summary Derivative
Index Futures: + 3556.89 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 7509 7500 7534 7586 7620
Sell 7474 7508 7455 7422 7370

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 15410 15377 15457 15522 15601
Sell 15362 15392 15327 15247 15182

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