#NIFTY and #BANKNIFTY strategy for 29-July-2016

#. Nifty closed on a bull note at 8,666.30 UP +50.50 (0.59%) made high 8,674.70 of and low of 8,625.25. Nifty still holding bullish pattern. So today for intraday on upside resistance are at 8703 and 8730 level .On downside be alert below 8628 and avoid all intraday longs below 8602 level

#. n the derivative market, FII’s bought 81 crore of Index futures and bought 2553 crores worth of Index options. In the Stock futures segment, FII’s sold 718 crores worth of stock futures and bought 69 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 sbuy  position and DII’s have sell position in NIFTY. Today is the first day of this expiry so some we have to wait and watch one day to get data.we expect market will in range.

Intraday NIFTY view:
Trend: Bull
We are Bullish on NIFTY  but suggest you please book profit every level. Follow our (NIFTY POSITIONAL CALLS)

NIFTY SPOT INTRADAY LEVEL

R4 8734 BULL
R3 8707 UP BREAKOUT
R2 8698 UP CAUTION
R1 8691 SELL
PIVOT 8652  
S1 8641 BUY
S2 8635 DOWN CAUTION
S3 8625 DOWN BREAK OUT
S4 8598 BEAR

SGX Nifty
8,676.00 Down-20.50 (-0.24%)

FII Activity on nifty future:
Index Futures: +81.18 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8708 8681 8721 8744 8784
Sell 8672 8689 8666 8627 8603

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 19174 19149 19216 19282 19349
Short Sell 19130 19169 19103 19036 18970

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