#NIFTY and #BANKNIFTY strategy for 20-Sep-2016

#. Nifty closed on a slight bear note note at  8,775.90 -32.50 (-0.37%) made high 8,816.45 of and low of 8,759.30. Nifty turn bearish mode and holding. So today for intraday on upside intra resistance are at 8812 and 8838 level and On downside be alert below 8739 and avoid all intraday longs below 8713 level.

#. In the derivative market, FII’s sold 89 crore of Index futures and sold 1942 crores worth of Index options. In the Stock futures segment, FII’s sold 896 crores worth of stock futures and sold 24 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  have sell position and DII’s have buy position in NIFTY. We again expect volatile in market and may close in range.

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

NIFTY SPOT INTRADAY LEVEL

R4 8842 BULL
R3 8816 UP BREAKOUT
R2 8807 UP CAUTION
R1 8800 SELL
PIVOT 8784
S1 8751 BUY
S2 8745 DOWN CAUTION
S3 8736 DOWN BREAK OUT
S4 8710 BEAR

SGX Nifty
8,801.00 Down -1.50 (-0.02%)

FII Activity on nifty future:
Index Futures: – 89.07 Crores

FII Activity September 2016 Series – Summary Derivative
Index Futures: + 4050.78 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8814 8800 8818 8834 8852
Sell 8791 8809 8793 8775 8759

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 19954 19929 20008 20104 20183
Sell 19892 19949 19853 19774 19678

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