#NIFTY and #BANKNIFTY strategy for 28-OCT-2016

#. Nifty closed on neutral note at 8,615.25 0.00 (0.00%) made high 8,624.85 of and low of 8,550.25. Overall market trend is positive and nifty holding bullish pattern but caution before making long position. So today for intraday on upside resistance are at 8646 and 8672 level and On downside be alert below 8585 and avoid all longs below 8532 level.

#.In the derivative market, FII’s bought 819 crore of Index futures and bought 3230 crores worth of Index options. In the Stock futures segment, FII’s sold 1812 crores worth of stock futures and bought 234 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…but this is previous expiry data so we have to wait and watch what big players are doing.

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

NIFTY SPOT INTRADAY LEVEL

R4 8699 BULL
R3 8665 UP BREAKOUT
R2 8653 UP CAUTION
R1 8644 SELL
PIVOT 8597
S1 8586 BUY
S2 8578 DOWN CAUTION
S3 8566 DOWN BREAK OUT
S4 8532 BEAR

SGX Nifty
8,641.25 UP +29.75    (+0.35%)

FII Activity on nifty future:
Index Futures: + 819.22 Crores

FII Activity OCT 2016 Series – Summary Derivative
Index Futures: – 6584.15 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8662 8633 8678 8705 8751
Sell 8624 8641 8614 8569 8541

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 19608 19518 19682 19780 19944
Sell 19499 19538 19439 19275 19177

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