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

#. Nifty closed on a slight bear note at 8,203.70 made high 8238.20 of and low of 8153.65. So today for intraday on upside resistance are at 8233 and 8255 level .On downside be alert below 8175 and avoid all intraday longs below 8151 level.

#. In the derivative market, FII’s sold -497.17 crores of Index futures and sold -390.07 crores worth of Index options. In the Stock futures segment, FII’s bought 347.78 crores worth of stock futures and bought 33.51 crores of stock options.

#.. As per the fund flow FII and PRO’s both have mixed view. As per the data FII have sell position and PRO’s have buy position. On other side clients have buy and DII’s have sell position in NIFTY. We again expect volatile in market.

Intraday NIFTY view:
Trend: Bull
We are neutral on NIFTY for short term. Follow our (NIFTY POSITIONAL CALLS)

NIFTY SPOT INTRADAY LEVEL

R4 8298 BULL
R3 8259 UP BREAKOUT
R2 8245 UP CAUTION
R1 8235 SELL
PIVOT 8198
S1 8172 BUY
S2 8163 DOWN CAUTION
S3 8149 DOWN BREAK OUT
S4 8110 BEAR

SGX Nifty
8,206.50     UP+2.50     +0.03%

FII Activity on nifty future:
Index Futures: – 497.17 Crores

FII Activity June 2016 Series – Summary Derivative
Index Futures: – 1676.24 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8211 8200 8250 8299 8349
Sell 8192 8208 8159 8109 8060

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 17634 17612 17733 17878 17999
Sell 17571 17630 17485 17364 17220

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