Low volatility giving bulls comfort: Nilesh Jain of Anand Rathi

Nifty's momentum indicators and oscillators on the weekly scales are still in 'buy' mode

BUY NIFTY | TARGET: 11,550 | STOP LOSS: 11,360

The Nifty index continued its upmove and also reached our short-term target of 11,400. Now, since we are in the August F&O expiry week, we can expect some rally on the back of the short-covering move. The momentum indicators and oscillators on the weekly scales are still in buy mode which hints at some buying at lower levels. The volatility index is currently near 19 levels which is giving comfort to the bulls. Thus, one can remain on the long side by keeping a stop loss of 11,360.

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