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

#. Nifty closed on a slight bear note at 8,659.10 Down -18.80 (-0.22%) made high 8,698.75 of and low of8,636.70 . So today for intraday on upside intra resistance are at 8698 and 8726 level and On downside be alert below 8620 and avoid all longs below 8591 level as selling may intensify below that level

#. In the derivative market, FII’s sold 111 crore of Index futures and bought 132 crores worth of Index options. In the Stock futures segment, FII’s bought 111 crores worth of stock futures and bought 106 crores stock options.

#. As fund flow FII’s and proprietary’s all are having the sell position in Nifty future so be caution before making any position in market.

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

NIFTY SPOT INTRADAY LEVEL

R4 8730 BULL
R3 8702 UP BREAKOUT
R2 8692 UP CAUTION
R1 8685 SELL
PIVOT 8665
S1 8633 BUY
S2 8627 DOWN CAUTION
S3 8616 DOWN BREAK OUT
S4 8588 BEAR

SGX Nifty
8,690.00    UP+32.00    (+0.37%)

FII Activity on nifty future:
Index Futures: – 111.65 Crores

FII Activity OCT 2016 Series – Summary Derivative
Index Futures: – 6190.31 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8674 8663 8690 8719 8746
Sell 8652 8672 8643 8616 8587

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 19473 19448 19554 19666 19772
Sell 19423 19468 19356 19250 19138

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