Nifty and Banknifty strategy for 18-NOV-2016

#. Nifty closed on slight bear note at 8,079.95 Down-31.65 (-0.39%) made high 8,151.25 of and low of 8,060.30 . Overall market trend turn negative and nifty holding bearish pattern. It will be tough to make too many longer term judgments as FII has sold 8600 crores sell position in Cash market.So today for intraday on upside intra resistance are at 8108 and 8135 level and On downside be alert below 8050 and avoid all longs below that level as selling may intensify below that level.

#. In the derivative market, FII’s bought 344 crore of Index futures and sold 141 crores worth of Index options. In the Stock futures segment, FII’s bought 200 crores worth of stock futures and sold 159 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 neutral on NIFTY  but suggest you please book profit every level. Follow our (NIFTY POSITIONAL CALLS)

NIFTY SPOT INTRADAY LEVEL
R4 8179 BULL
R3 8138 UP BREAKOUT
R2 8123 UP CAUTION
R1 8113 SELL
PIVOT 8097  
S1 8047 BUY
S2 8037 DOWN CAUTION
S3 8022 DOWN BREAK OUT
S4 7981 BEAR

SGX Nifty
8,091.50 Down -2.50 -0.03%

FII Activity on nifty future:

Index Futures: + 344.79 Crores

Index Options:  – 141.98 Crores

Stock Futures: + 200.25 Crores

Stock Options: – 159.15 Crores

NIFTY Future Levels: Watch NIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 8105 8095 8153 8223 8281
Short 8076 8103 8034 7975 7906

BankNIFTY Future Levels: Watch BankNIFTY LIVE signal

Signal       Price  Stop Loss Target-1 Target-2 Target-3
Buy 19195 19171 19316 19502 19647
Short Sell 19111 19190 19004 18859 18673

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