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
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
Nifty Outlook For 30 August 2016
As we have predicted that US Fed's Chair Janet Yellen's comment about possible rate hike in September wouldn't be market moving and end up as non event, as most asian markets have consolidated throughout the day, except Nikkei, which was up more than 2%, thanks to the BoJ's comments about more stimulus. ( 29th August, Monday ).
Read Our Previous Comments Here.
Nifty Trading For 30 August 2016
For Traders, We recommended buy on dips strategy yesterday, rather than going short, which worked almost perfectly as Nifty has bounced back from 8550 levels and closed above 8600, as last hour rally, led by heavyweight Reliance, helped to stay above 8600. We will continue to hold long positions in Nifty with a stop loss of 8550 with a target of 8680-8700 ( Spot levels ).
For new positions, we would recommend only at 8600 spot levels, would be a stop loss with a target of 8680-8700. If you don't get a chance to enter at 8600, you can make an entry below 8630 levels, don't buy Nifty above 8650, as the levels are not favourable for risk reward.
As we have predicted that US Fed's Chair Janet Yellen's comment about possible rate hike in September wouldn't be market moving and end up as non event, as most asian markets have consolidated throughout the day, except Nikkei, which was up more than 2%, thanks to the BoJ's comments about more stimulus. ( 29th August, Monday ).
Read Our Previous Comments Here.
Nifty Trading For 30 August 2016
For Traders, We recommended buy on dips strategy yesterday, rather than going short, which worked almost perfectly as Nifty has bounced back from 8550 levels and closed above 8600, as last hour rally, led by heavyweight Reliance, helped to stay above 8600. We will continue to hold long positions in Nifty with a stop loss of 8550 with a target of 8680-8700 ( Spot levels ).
For new positions, we would recommend only at 8600 spot levels, would be a stop loss with a target of 8680-8700. If you don't get a chance to enter at 8600, you can make an entry below 8630 levels, don't buy Nifty above 8650, as the levels are not favourable for risk reward.
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.
