#NIFTY and #BANKNIFTY strategy for 5-May-2016

#. Nifty closed on a slight bear note at  7,706.55 -40.45 (-0.52%) made high 7,749.00 of and low of 7,697.25. So today for intraday on upside intra resistance are at 7739 and 7763 level .On downside be alert below 7673 and avoid all intraday longs below 7650 level

#. In the derivative market, FII’s sold -1277.91 crores of Index futures and sold -511.77 crores worth of Index options. In the Stock futures segment, FII’s sold -627.21 crores worth of stock futures and sold -50.28 crores of stock options.

#market expected to be more volatile as FII and PRO has mixed view in markets where FII’s have sell position where PRO’s, DII’s and client have 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 7766 BULL
R3 7743 UP BREAKOUT
R2 7734 UP CAUTION
R1 7728 SELL
PIVOT 7718
S1 7685 BUY
S2 7679 DOWN CAUTION
S3 7671 DOWN BREAK OUT
S4 7647 BEAR

SGX Nifty
7,697.00     Down-27.00     -0.35%

FII Activity on nifty future:
Index Futures: – 1277.9 Crores

FII Activity March 2016 Series – Summary Derivative
Index Futures: – 3870.5 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 7755 7745 7769 7809 7833
Sell 7721 7753 7713 7689 7649

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 16427 16406 16488 16623 16705
Sell 16336 16423 16287 16206 16070

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