#NIFTY and #BANKNIFTY strategy for 4-Aug-2016

#. Nifty closed on a slight bear note at 8,544.85 Down -78.05 (-0.91%) made high 8,635.45 of and low of 8,529.60. Nifty showing some sign of bearish pattern. So today for intraday on upside resistance are at 8580 and 8610 level .On downside be alert below 8510 and avoid all intraday longs below 8480 level.

#. In the derivative market, FII’s sold 32 crore of Index futures and bought 431 crores worth of Index options. In the Stock futures segment, FII’s sold 1308 crores worth of stock futures and sold 67 crores of stock options

#. As per the fund flow FII and PRO’s both have mixed view. As per the data FII have just neural 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.We again expect volatile in market…

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

NIFTY SPOT INTRADAY LEVEL

R4 8660 BULL
R3 8611 UP BREAKOUT
R2 8594 UP CAUTION
R1 8582 SELL
PIVOT 8570  
S1 8507 BUY
S2 8496 DOWN CAUTION
S3 8478 DOWN BREAK OUT
S4 8430 BEAR

SGX Nifty
8,622.50 UP +38.00 (+0.44%)

FII Activity on nifty future:
Index Futures: +32.7 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8606 8596 8628 8677 8709
Short Sell 8570 8604 8555 8523 8474

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 18752 18729 18835 18987 19093
Short Sell 18665 18748 18596 18490 18338

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