#NIFTY and #BANKNIFTY strategy for 17-May-2016

#. Nifty closed on a slight bull note at 7,860.75   UP  +45.85 (0.59%) made high 7,873.90 of and low of 7,772.15. So today for intraday on upside resistance are at 7893 and 7922 level .On downside be alert below 7827 and avoid all intraday longs below 7799 level.

#. In the derivative market, FII’s sold – 193.49 crores of Index futures and bought + 1274.58 crores worth of Index options. In the Stock futures segment, FII’s sold – 405.42 crores worth of stock futures and sold – 58.48 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 suggest you please book profit every level.Follow our (NIFTY POSITIONAL CALLS)

NIFTY SPOT INTRADAY LEVEL

R4 7972 BULL
R3 7925 UP BREAKOUT
R2 7908 UP CAUTION
R1 7897 SELL
PIVOT 7836
S1 7825 BUY
S2 7814 DOWN CAUTION
S3 7797 DOWN BREAK OUT
S4 7750 BEAR

SGX Nifty
7,900.00     UP+20.50     +0.26%

FII Activity on nifty future:
Index Futures: – 193.49 Crores

FII Activity May 2016 Series – Summary Derivative
Index Futures: – 6508.6 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 7893 7851 7926 7969 8044
Sell 7843 7859 7816 7741 7698

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 16801 16682 16923 17065 17306
Sell 16665 16699 16557 16316 16174

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