#NIFTY and #BANKNIFTY strategy for 2-Aug-2016

#. Nifty closed on a slight bear note at 8,636.55 -1.95 (-0.02%) made high 8,711.30 of and low of 8,590.50.Nifty still holding bullish pattern.So today for intraday on upside resistance are at 8664 and 8702 level .On downside be alert below 8612 and avoid all intraday longs below 8577 level

#. In the derivative market, FII’s bought 631 crore of Index futures and bought 672 crores worth of Index options. In the Stock futures segment, FII’s sold 974 crores worth of stock futures and sold 41 crores of stock options.

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

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 8767 BULL
R3 8712 UP BREAKOUT
R2 8692 UP CAUTION
R1 8678 SELL
PIVOT 8646
S1 8595 BUY
S2 8582 DOWN CAUTION
S3 8562 DOWN BREAK OUT
S4 8507 BEAR

SGX Nifty
8,669.00 Down -19.00 (-0.22%)

FII Activity on nifty future:
Index Futures: +631.72 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8691 8680 8740 8803 8863
Short Sell 8669 8689 8626 8566 8504

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 18929 18905 19102 19367 19564
Short Sell 18818 18924 18659 18463 18198

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