#NIFTY and #BANKNIFTY strategy for 20-Apr-2016

#. Nifty closed on a bullish pattern  at 7,914.70 +64.25 (0.82%) and made a high of 7,920.60 and low of 7,842.75.So today for intraday on upside  resistance are at 7941 and 7962 level .On downside be alert below 7886 and avoid all intraday longs below 7765 level

#. In the derivative market, FII’s bought 631.01 crores of Index futures and bought 654.58 crores worth of Index options. In the Stock futures segment, FII’s bought 1026.46 crores worth of stock futures and sold -74.8701 crores of stock options.

Intraday NIFTY view:
Trend: Bull
We are Bullish on Bullish. Follow our (NIFTY POSITIONAL CALLS)

NIFTY SPOT INTRADAY LEVEL

R4 8001 BULL
R3 7966 UP BREAKOUT
R2 7953 UP CAUTION
R1 7944 SELL
PIVOT 7893  
S1 7885 BUY
S2 7877 DOWN CAUTION
S3 7864 DOWN BREAK OUT
S4 7828 BEAR

SGX Nifty
7,991.00 Down -0.50 (-0.01%)

FII Activity on nifty future:
Index Futures: +631 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 7926 7896 7944 7972 8020
Sell 7888 7904 7876 7828 7800

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 16250 16204 16417 16604 16817
Sell 16188 16221 16033 15821 15633

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