NIFTY AND BANKNIFTY STRATEGY FOR 16-MAR-2018

#. Nifty was on a bear trend and closed at 10360 level .So today on upside first intra resistance is at 10400-05 level. Market is in bear zone and be very alert.So today for intraday on upside intra resistance are at 10405 and 10439 level On downside be alert below 10315 and avoid all longs below 10281 level as selling may intensify below that level .

#. FII’s sold 705 crores stock whereas DII’s bought 256 crores worth of stock. In the derivative market, FII’s sold 732 crore of Index futures and bought 532 crores worth of Index options. In the Stock futures segment, FII’s sold 678 crores worth of stock futures and bought 71 crores stock options.

Intraday NIFTY view:
Trend: Bear
We are bearish on NIFTY  but suggest you please book profit every level. Follow our calls.

NIFTY Cash INTRADAY LEVEL

R4 10444 BULL
R3 10411 UP BREAKOUT
R2 10399 UP CAUTION
R1 10391 SELL
PIVOT 10375  
S1 10330 BUY
S2 10322 DOWN CAUTION
S3 10309 DOWN BREAK OUT
S4 10276 BEAR

SGX Nifty
10,326.50 Down -36.50 (-0.35%)

FII Activity on nifty future:

Index Futures: – 732.82 Crores

Index Options: + 532.09 Crores

Stock Futures: – 678.39 Crores

Stock Options: + 71.74 Crores

NIFTY Future Levels to watch:

Signal       Signal Price  Stop Loss Target-1 Target-2 Target-3
Buy 10395 10382 10410 10452 10480
Sell 10357 10392 10350 10322 10279

BankNIFTY Future Levels to watch:

Signal       Signal Price  Stop Loss Target-1 Target-2 Target-3
Buy 24899 24868 24958 25085 25175
Sell 24806 24893 24766 24676 24549

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