#NIFTY and #BANKNIFTY strategy for 6-May-2016

#. Nifty closed with some positive note 7735.made high 7777.35 of and low of 7707. So today for intraday on upside intra resistance are at 7779 and 7811 level .On downside be alert below 7691 and avoid all intraday longs below 7659 level

#. In the derivative market, FII’s sold -993.1 crores of Index futures and bought 1006.07 crores worth of Index options. In the Stock futures segment, FII’s bought 102.26 crores worth of stock futures and sold -22.9402 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 but request you book profit every level. Follow our (NIFTY POSITIONAL CALLS)

NIFTY SPOT INTRADAY LEVEL

R4 7815 BULL
R3 7782 UP BREAKOUT
R2 7770 UP CAUTION
R1 7763 SELL
PIVOT 7740
S1 7708 BUY
S2 7701 DOWN CAUTION
S3 7689 DOWN BREAK OUT
S4 7657 BEAR

SGX Nifty
7,721.50     Down -41.50   (  -0.54%)

FII Activity on nifty future:
Index Futures: -993.1 Crores

FII Activity March 2016 Series – Summary Derivative
Index Futures: – 4863.6 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 7780 7771 7812 7855 7897
Sell 7761 7778 7735 7694 7651

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 16399 16378 16485 16593 16700
Sell 16360 16395 16286 16180 16071

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