Hello,
Nifty ended the settlement day nearly flat. The august settlement has seen a rise in Nifty to the tune of 69 points. This thus is the 3rd consecutive positive close. Market-wide rollover was at 80% and Nifty rollovers saw 76% rollover into the September series which is pretty near to historical averages.
Yesterday for the second consecutive day FII's were on the selling side. US markets closed below the psychological level of 10,000 for the first time in August. Markets may be range bound today on account of both it being the first day of the new settlement and also today being the last day of the week
Short term traders may continue to hold their short positions with a stop loss above 5500 whereas medium term investors trading with a weekly perceptive in mind can hold their long positions with the stop being below 5450 as explained in our Monday outlook.
Regards
Prashanth
Mythri Stocks & Shares Pvt Ltd.,
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