#NIFTY and #BANKNIFTY strategy for 24-OCT-2016

#. Nifty closed on a slight bear note at 8,693.05 Down-6.35 (-0.07%) made high 8,709.10 of and low of 8,652.05. 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 bought 23 crore of Index futures and bought 336 crores worth of Index options. In the Stock futures segment, FII’s sold 267 crores worth of stock futures and sold 138 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.We again expect volatile 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 8759 BULL
R3 8733 UP BREAKOUT
R2 8724 UP CAUTION
R1 8717 SELL
PIVOT 8685
S1 8669 BUY
S2 8662 DOWN CAUTION
S3 8653 DOWN BREAK OUT
S4 8627 BEAR

SGX Nifty
8,701.50    Down -1.00    (-0.01%)

FII Activity on nifty future:
Index Futures:  + 23.95 Crores

FII Activity June 2016 Series – Summary Derivative
Index Futures: – 6562.36 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8707 8684 8718 8739 8773
Sell 8675 8693 8671 8638 8616

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8707 8684 8718 8739 8773
Sell 8675 8693 8671 8638 8616

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