#NIFTY and #BANKNIFTY strategy for 16-May-2016

#. Nifty closed on a slight bear note at 7,814.90 Down-85.50 (-1.08%)made high 7,881.00 of and low of 7,784.20. So today for intraday on upside resistance are at 7851 and 7882 level .On downside be alert below 7778 and avoid all intraday longs below 7746 level

#. In the derivative market, FII’s sold – 237.90 crores of Index futures and sold – 414.40 crores worth of Index options. In the Stock futures segment, FII’s sold – 324.05 crores worth of stock futures and sold – 83.58 crores of stock options.

#. As fund flow FII’s and proprietary’s all are having the sell position in Nifty future on other side Client and DII’s have the buy position towards nifty.

Intraday NIFTY view:
Trend: Bull
We are Bearish on NIFTY for short term but profit booking from upper level. Follow our (NIFTY POSITIONAL CALLS)

NIFTY SPOT INTRADAY LEVEL

R4 7939 BULL
R3 7887 UP BREAKOUT
R2 7867 UP CAUTION
R1 7855 SELL
PIVOT 7833
S1 7775 BUY
S2 7763 DOWN CAUTION
S3 7743 DOWN BREAK OUT
S4 7691 BEAR

SGX Nifty
7,781.00    Down  -48.50     -0.62%

FII Activity on nifty future:
Index Futures: – 237.90 Crores

FII Activity MAy2016 Series – Summary Derivative
Index Futures: – 6315.11 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 7842 7833 7882 7937 7986
Sell 7819 7840 7785 7736 7681

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 16779 16758 16923 17117 17283
Sell 16713 16775 16581 16415 16221

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