#NIFTY and #BANKNIFTY strategy for 29-Apr-2016

#. Nifty closed on a slight bull note at 7,847.25 .Market is in bull side.So today for intraday on upside resistance are at 7895 and 7938 level .On downside be alert below 7799 and avoid all intraday longs below 7756 level

#. In the derivative market, FII’s bought 103.0 crores of Index futures and sold -404.719 crores worth of Index options. In the Stock futures segment, FII’s sold -1351.16 crores worth of stock futures and bought 127.5 crores of stock options.

Intraday NIFTY view:
Trend: Bull
We are Bearish for short term but caution as new expiry series is going to start. Follow our (NIFTY POSITIONAL CALLS)

NIFTY SPOT INTRADAY LEVEL

R4 8013 BULL
R3 7941 UP BREAKOUT
R2 7915 UP CAUTION
R1 7898 SELL
PIVOT 7891
S1 7796 BUY
S2 7779 DOWN CAUTION
S3 7753 DOWN BREAK OUT
S4 7682 BEAR

SGX Nifty
7,874.00     Down -35.50   (  -0.45%)

FII Activity on nifty future:
Index Futures: + 103  Crores

FII Activity April 2016 Series – Summary Derivative
Index Futures: + 1491.9 Crores

 

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