#NIFTY and #BANKNIFTY strategy for 3-Aug-2016

#. Nifty closed on a slight bear note at 8,622.90 -13.65 (-0.16%) made high 8,687.20 of and low of 8,611.40. Nifty still holding bullish pattern. Today for intraday on upside  resistance are at 8665 and 8705 level .On downside be alert below 8575 and avoid all intraday longs below 8576 level

#. In the derivative market, FII’s bought 3 crore of Index futures and bought 519 crores worth of Index options. In the Stock futures segment, FII’s sold 841 crores worth of stock futures and sold 71 crores of stock options.

#. As per the fund flow FII and PRO’s both have mixed view. As per the data FII have just neutal sell position and PRO’s have buy position. On other side clients  and DII’s have sell position in NIFTY. After expiry it was first normal correction. We are bullish and holding NIFTY buy position.

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

NIFTY SPOT INTRADAY LEVEL
R4 8707 BULL
R3 8673 UP BREAKOUT
R2 8661 UP CAUTION
R1 8652 SELL
PIVOT 8640
S1 8594 BUY
S2 8585 DOWN CAUTION
S3 8573 DOWN BREAK OUT
S4 8538 BEAR

SGX Nifty
8,626.00  Down  -34.00   (  -0.39%)

FII Activity on nifty future:
Index Futures: + 3.87 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8685 8674 8714 8772 8812
Short 8647 8682 8625 8584 8526

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 18861 18837 18929 19044 19135
Sell 18794 18856 18741 18649 18534

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