#NIFTY and #BANKNIFTY strategy for 21-OCT-2016

#. Nifty closed on a bull note at 8,699.40 +40.30 (0.47%) made high 8,727.00 of and low of 8,678.30. Overall market trend is positive and nifty holding bullish pattern.So today for intraday on upside intra resistance are at 8741 and 8772 level and On downside be alert below 8657 and avoid all longs below 8626 level as selling may intensify below that level

#. In the derivative market, FII’s sold 396 crore of Index futures and bought 1577 crores worth of Index options. In the Stock futures segment, FII’s bought 588 crores worth of stock futures and sold 91 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.We again expect volatile in market…

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

NIFTY SPOT INTRADAY LEVEL

R4 8776 BULL
R3 8745 UP BREAKOUT
R2 8734 UP CAUTION
R1 8727 SELL
PIVOT 8695
S1 8672 BUY
S2 8665 DOWN CAUTION
S3 8653 DOWN BREAK OUT
S4 8623 BEAR

SGX Nifty
8,705.00  Down -2.00 (-0.02%)

FII Activity on nifty future:
Index Futures: – 396 Crores

FII Activity OCT 2016 Series – Summary Derivative
Index Futures: – 6586.31 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8712 8699 8726 8751 8778
Sell 8690 8707 8682 8655 8630

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 19684 19625 19759 19858 19992
Sell 19605 19645 19545 19412 19312

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