#NIFTY and #BANKNIFTY strategy for 26-OCT-2016

#. Nifty closed on a slight bear note at 8,691.30 -17.65 (-0.20%) made high 8,722.65 of and low of 8,663.45. Overall market trend is positive and nifty holding bullish pattern but caution before making long position.So today for intraday on upside intra resistance are at 8728 and 8755 level and On downside be alert below 8653 and avoid all longs below 8625 level as selling may intensify

#. In the derivative market, FII’s sold 763 crore of Index futures and sold 835 crores worth of Index options. In the Stock futures segment, FII’s bought 189 crores worth of stock futures and sold 83 crores stock options

#. As per the fund flow FII and PRO’s both have mixed view. As per the data FII have above average sell position and PRO’s have buy position.We again expect volatile in market…

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

NIFTY SPOT INTRADAY LEVEL

R4 8759 BULL
R3 8732 UP BREAKOUT
R2 8723 UP CAUTION
R1 8716 SELL
PIVOT 8692  
S1 8666 BUY
S2 8660 DOWN CAUTION
S3 8650 DOWN BREAK OUT
S4 8623 BEAR

SGX Nifty
8,684.50  Down -13.50 (-0.16%)

FII Activity on nifty future:
Index Futures: – 763.56 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8707 8688 8719 8743 8774
Sell 8679 8697 8673 8642 8619

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 19860 19810 19920 20005 20115
Sell 19790 19830 19745 19635 19550

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