Nifty and Banknifty strategy for 3-NOV-2016

#. Nifty closed on bear note at 8,514.00 -112.25 (-1.30%) made high 8,549.50 of and low of 8,504.85. Overall market trend turn negative and nifty holding bearish pattern but caution before making long position. So today for intraday on upside intra resistance are at 8552 and 8585 level and On downside be alert below 8475 and avoid all longs below that level as selling may intensify below that level.

#. In the derivative market, FII’s sold 802 crore of Index futures and bought 607 crores worth of Index options. In the Stock futures segment, FII’s sold 63 crores worth of stock futures and bought 68 crores stock options.

#. As fund flow FII’s and proprietary’s are having mixed view in market so volatility will be more. Where FII’s vave sell position and DII’s having buy position  in Nifty future.

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

NIFTY SPOT INTRADAY LEVEL

R4 8644 BULL
R3 8589 UP BREAKOUT
R2 8569 UP CAUTION
R1 8556 SELL
PIVOT 8548
S1 8472 BUY
S2 8459 DOWN CAUTION
S3 8439 DOWN BREAK OUT
S4 8384 BEAR

SGX Nifty
8,494.00    Down -44.00    (-0.52%)

FII Activity on nifty future:
Index Futures: – 802.89 Crores

FII Activity June 2016 Series – Summary Derivative
Index Futures: – 2455.6 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8557 8547 8566 8594 8614
Sell 8530 8555 8527 8508 8480

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 19318 19294 19376 19462 19543
Sell 19271 19314 19228 19146 19060

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