#NIFTY and #BANKNIFTY strategy for 23-May-2016

#. Nifty closed on a bear note at 7,749.70 Down-33.70 (-0.43%) made high 7,812.40 of and low of 7,735.75.So today for intraday on upside resistance are at 7796 and 7831 level .On downside be alert below 7702 and avoid all intraday longs below 7665 level

#. 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 in nifty index.

Intraday NIFTY view:
Trend: Bull
We are Bearish on NIFTY for short term but suggest you please book profit every level. We might see trend reversal today. Follow our (NIFTY POSITIONAL CALLS)

NIFTY SPOT INTRADAY LEVEL

R4 7834 BULL
R3 7799 UP BREAKOUT
R2 7787 UP CAUTION
R1 7778 SELL
PIVOT 7766
S1 7721 BUY
S2 7713 DOWN CAUTION
S3 7700 DOWN BREAK OUT
S4 7665 BEAR

SGX Nifty
7,765.00     UP  +3.00     (+0.04%)

FII Activity on nifty future:
Index Futures: – 44.91 Crores

FII Activity May 2016 Series – Summary Derivative
Index Futures: – 8031.83 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 7787 7778 7806 7852 7881
Sell 7752 7785 7739 7711 7664

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 16562 16542 16616 16735 16810
Sell 16481 16558 16439 16364 16246

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