#NIFTY and #BANKNIFTY strategy for 24-Aug-2016

#. Nifty closed on a bull note at 8,632.60 UP +3.45 (0.04%) made high 8,642.15 of and low of 8,580.00.So today for intraday on upside resistance are at 8672 and 8700 level and On downside be alert below 8592 and avoid all intraday longs below that level a close Below 8592 trend may signal weakness in coming days.

#. In the derivative market, FII’s sold 630 crore of Index futures and sold 538 crores worth of Index options. In the Stock futures segment, FII’s sold 524 crores worth of stock futures and sold 77 crores 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  and DII have buy position . Today again market will be volatile and we will see no clear direction.

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

NIFTY SPOT INTRADAY LEVEL
R4 8704 BULL
R3 8675 UP BREAKOUT
R2 8665 UP CAUTION
R1 8658 SELL
PIVOT 8618
S1 8607 BUY
S2 8600 DOWN CAUTION
S3 8590 DOWN BREAK OUT
S4 8561 BEAR

SGX Nifty
8,654.00  Neutral 0.00 0.00%

FII Activity on nifty future:
Index Futures: – 630.97 Crores

FII Activity August 2016 Series – Summary Derivative
Index Futures: + 1323.73  Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8648 8625 8663 8689 8727
Short Sell 8616 8634 8608 8570 8544

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 19387 19331 19427 19492 19588
Short Sell 19312 19351 19286 19190 19126

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