#NIFTY and #BANKNIFTY strategy for 2-May-2016

#. Nifty closed on a slight bull note at  7,849.80 +2.55 (0.03%) made high 7,889.05 of and low of 7,788.70.So today for intraday on upside resistance are at 7882 and 7910 level .On downside be alert below 7817 and avoid all intraday longs below 7790 level.

#. In the derivative market, FII’s sold -268.25 crores of Index futures and bought 2410.76 crores worth of Index options. In the Stock futures segment, FII’s sold -609.32 crores worth of stock futures and bought 78.1101 crores of stock options.

#. As the open interest  FII’s and proprietary’s both are having mixed view in marktet. FII’s and DII’s has sell position and Pro’s and Clients has buy position in nifty future.

Intraday NIFTY view:
Trend: Bull
We are Bearish on NIFTY for short term. Follow our (NIFTY POSITIONAL CALLS)

NIFTY SPOT  INTRADAY LEVEL

R4 7959 BULL
R3 7913 UP BREAKOUT
R2 7896 UP CAUTION
R1 7885 SELL
PIVOT 7843
S1 7814 BUY
S2 7803 DOWN CAUTION
S3 7787 DOWN BREAK OUT
S4 7741 BEAR

SGX Nifty
7,857.50 Down-35.00 (-0.45%)

FII Activity on nifty future:
Index Futures: -268.24 Crores

FII Activity May 2016 Series – Summary Derivative
Index Futures: – 268.24 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 7901 7888 7949 8007 8068
Sell 7880 7896 7838 7777 7719

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 16901 16790 17028 17175 17413
Sell 16773 16807 16659 16422 16274

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