Nifty Trading Strategy for 31st August 2016

Nifty Trading for the day:

As we stand by our call to go long on Nifty from 8550 to 8700 levels ( Spot Levels ). Nifty has broke out above that levels in last hour of buying and closed well above that ( 8744 ). We recommend to hold long positions with a revised stop loss of 8700 ( Spot Levels ). Also new entry can be made at or around these levels. Now onwards intraday gains might not possible. So take a view for 2-3 trading sessions.

FII & DII combined bought more than 800 cr in cash segment, while FII bought 2100 cr in Index futures. These suggest going long at these levels as well. Don't go short at these levels, instead buy on every dip.

View our previous recommendation here

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