#NIFTY and #BANKNIFTY strategy for 16-Sep-2016

#. Nifty closed on a slight bull note note at 8,742.55 UP+15.95 (0.18%) made high 8,751.95 of and low of 8,704.35. Nifty turn bearish mode and holding. So today for intraday on upside resistance are at 8774 and 8795 level and On downside be alert below 8711 and avoid all intraday longs below 8689 level

#.In the derivative market, FII’s sold 591 crore of Index futures and sold 328 crores worth of Index options. In the Stock futures segment, FII’s sold 517 crores worth of stock futures and sold 67 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.After a long time FII has started profit booking in both Cash as well as in derivative. We again expect volatile in market but be in the bearish side.

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

NIFTY SPOT INTRADAY LEVEL
R4 8799 BULL
R3 8777 UP BREAKOUT
R2 8770 UP CAUTION
R1 8764 SELL
PIVOT 8733
S1 8721 BUY
S2 8716 DOWN CAUTION
S3 8708 DOWN BREAK OUT
S4 8686 BEAR

SGX Nifty
8,818.00     UP +40.50    ( +0.46%)

FII Activity on nifty future:
Index Futures: – 591.17 Crores

FII Activity Sep 2016 Series – Summary Derivative
Index Futures: + 4144.05 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8780 8757 8791 8813 8847
Sell 8749 8766 8744 8710 8688

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 19958 19933 20060 20192 20319
Sell 19908 19953 19821 19694 19562

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