#NIFTY and #BANKNIFTY strategy for 22-Sep-2016

#. Nifty closed on a slight bear note note at 8,777.15 +1.25 (0.01%) made high 8,826.85 of and low of 8,757.30. Nifty turn bearish mode and holding. So today for intraday on upside intra resistance are at 8820 and 8851 level and On downside be alert below 8734 and avoid all intraday longs below that level.

#.In the derivative market, FII’s bought 443 crore of Index futures and sold 367 crores worth of Index options. In the Stock futures segment, FII’s sold 502 crores worth of stock futures and sold 115 crores stock options.

#. As per the fund flow FII and PRO’s both have mixed view. As per the data FII have buy position and PRO’s have sell position. On other side clients and DII both have sell position  in NIFTY. We again expect volatile in market and may close in range.

Intraday NIFTY view:
Trend: Bull
We are neutral on NIFTY for short term but suggest you please book profit every level because Its weekend and we may see some profit booking from upper level. Follow our (NIFTY POSITIONAL CALLS)

NIFTY SPOT INTRADAY LEVEL

R4 8856 BULL
R3 8824 UP BREAKOUT
R2 8813 UP CAUTION
R1 8805 SELL
PIVOT 8787
S1 8749 BUY
S2 8742 DOWN CAUTION
S3 8730 DOWN BREAK OUT
S4 8699 BEAR

SGX Nifty
8,791.00    Down  -17.50    ( -0.20%)

FII Activity on nifty future:
Index Futures:  + 443.68 Crores

FII Activity Sep 2016 Series – Summary Derivative
Index Futures: + 4494.46 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8823 8812 8843 8883 8915
Sell 8794 8821 8780 8749 8708

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 19928 19903 19988 20085 20170
Short 19871 19923 19826 19741 19644

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