Nifty Outlook:
Finally Nifty has broken the 8600-8680 range on the lower side and closed at 8592. Profit booking was seen in Bank Nifty as well. The noticeable thing is FII were net buyers in index futures of more than 1000 cr and cash market of more than 300 cr, which helped index from deeper cut. Also, US fed commentary on friday at Jackson Hole, Wyoming was nothing more than confusing. It has reignited a fear of rate hike in September, which might trigger an outflow from Ems ( Emerging markets ).
1) For Investors, Who are waiting on sidelines.
Start focusing on your buy list and pick them slowly. Don't worry if markets headed south. Just keep buying.
2) For traders, Apply buy on dips strategy but be cautious as 8500 levels on Nifty might not stay due to US fed rate hike prospect. Focus on dollar index, gold and US treasury, to get idea of strength or weakness in Nifty. 8450-8480 will be a good zone to buy for target of 8620. Don't go short, as FII are still buying every dip, means liquidity will trap you. Also, if Nifty doesn't dip more, then no trade left Nifty above 8620-8640 levels.
Finally Nifty has broken the 8600-8680 range on the lower side and closed at 8592. Profit booking was seen in Bank Nifty as well. The noticeable thing is FII were net buyers in index futures of more than 1000 cr and cash market of more than 300 cr, which helped index from deeper cut. Also, US fed commentary on friday at Jackson Hole, Wyoming was nothing more than confusing. It has reignited a fear of rate hike in September, which might trigger an outflow from Ems ( Emerging markets ).
1) For Investors, Who are waiting on sidelines.
Start focusing on your buy list and pick them slowly. Don't worry if markets headed south. Just keep buying.
2) For traders, Apply buy on dips strategy but be cautious as 8500 levels on Nifty might not stay due to US fed rate hike prospect. Focus on dollar index, gold and US treasury, to get idea of strength or weakness in Nifty. 8450-8480 will be a good zone to buy for target of 8620. Don't go short, as FII are still buying every dip, means liquidity will trap you. Also, if Nifty doesn't dip more, then no trade left Nifty above 8620-8640 levels.
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