NIFTYdaily23May2018

NIFTY AND BANKNIFTY STRATEGY FOR 23-MAY-2018

#.Nifty was on a bull trend and closed at 10536 level .So today on upside first intra resistance is at 10574-79 level. On downside first support is at 10499-95 level. Market is in bull zone .So today for intraday on upside intra resistance are at 10579 and 10610 level On downside be alert below 10495 and avoid all longs below 10463 level as selling may intensify below that level.

#. In the cash market today, FII’s sold -1651.63 crores stock whereas DII’s bought 1496.83 crores worth of stock.

#. In the derivative market, FII’s sold -808.29 crores of Index futures and sold -84.5391 crores worth of Index options. In the Stock futures segment, FII’s sold -20.0107 crores worth of stock futures and sold -46.4902 crores of stock options.

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

NIFTY50 INTRADAY LEVEL

R4 10616 BULL
R3 10585 UP BREAKOUT
R2 10573 UP CAUTION
R1 10566 SELL
PIVOT 10529
S1 10508 BUY
S2 10500 DOWN CAUTION
S3 10489 DOWN BREAK OUT
S4 10458 BEAR

SGX Nifty
10,529.00 Down -20.50 (-0.19%)

FII Activity on nifty future:

Index Futures: -808.29 Crs
Index Options: -84.5391 Crs
Stock Futures: -20.0107 Crs
Stock Options: -46.4902 Crs

NIFTY Future Levels to watch:

Signal       Signal Price  Stop Loss Target-1 Target-2 Target-3
Buy 10561 10539 10576 10604 10641
Sell 10528 10549 10521 10484 10456

BankNIFTY Future Levels to watch:

Signal       Signal Price  Stop Loss Target-1 Target-2 Target-3
Buy 25858 25826 25924 26044 26143
Sell 25778 25852 25732 25633 25513

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