Nifty and Banknifty strategy for 7-NOV-2016

#. Nifty closed on bear note at 8,433.75 -51.20 (-0.60%) made high 8,504.00 of and low of 8,400.25. Overall market trend turn negative and nifty holding bearish pattern but take caution before making long position..So today for intraday on upside intra resistance are at 8467 and 8495 level and On downside be alert below 8400 and avoid all longs below that level as selling may intensify below that level.

#. In the derivative market, FII’s sold 968 crore of Index futures and sold 188 crores worth of Index options. In the Stock futures segment, FII’s sold 600 crores worth of stock futures and sold 16 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. For Nifty Futures, 8512 level is very crucial, if market crosses it then bulls will be in control. it is important to see if FII change their view in next few trading sessions.

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 8546 BULL
R3 8499 UP BREAKOUT
R2 8482 UP CAUTION
R1 8471 SELL
PIVOT 8446  
S1 8397 BUY
S2 8386 DOWN CAUTION
S3 8368 DOWN BREAK OUT
S4 8321 BEAR

SGX Nifty
8,518.25  UP +60.25    (+0.71%)

FII Activity on nifty future:
Index Futures: +968 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8478 8467 8513 8571 8617
Sell 8446 8475 8417 8371 8312

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 19167 19143 19255 19387 19498
Sell 19103 19162 19030 18919 18786

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