NIFTYdaily 8 May 2018

NIFTY AND BANKNIFTY STRATEGY FOR 8-MAY-2018

#.Nifty was on a strongbull trend and closed at 10715 level .So today on upside first intra resistance is at 10745-50 level. On downside first support is at 10685-80 level.Market is in bull zone .So today for intraday on upside intra resistance are at 10750 and 10778 level On downside be alert below 10680 and avoid all longs below 10651 level as selling may intensify below that level .

#. In the derivative market, FII’s bought 104.5 crores of Index futures and bought 601.33 crores worth of Index options. In the Stock futures segment, FII’s bought 647.629 crores worth of stock futures and bought 145.74 crores of stock options.

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

NIFTY50 Cash INTRADAY LEVEL

R4 10835 BULL
R3 10786 UP BREAKOUT
R2 10768 UP CAUTION
R1 10756 SELL
PIVOT 10686  
S1 10675 BUY
S2 10663 DOWN CAUTION
S3 10646 DOWN BREAK OUT
S4 10597 BEAR

SGX Nifty
10,768.00 UP+22.00 (+0.20%)

FII Activity on nifty future:

Index Futures: 104.5 Crs
Index Options: 601.33 Crs
Stock Futures: 647.629 Crs
Stock Options: 145.74 Crs

NIFTY Future Levels to watch:

Signal       Signal Price  Stop Loss Target-1 Target-2 Target-3
Buy 10748 10705 10771 10807 10872
Sell 10694 10716 10680 10614 10578

BankNIFTY Future Levels to watch:

BANKNIFTY

Signal       Signal Price  Stop Loss Target-1 Target-2 Target-3
Buy 25866 25815 25906 25978 26069
Sell 25789 25841 25769 25678 25606

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