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Nifty strategy by Anand Rathi: Buy on dips with stop-loss at 11,450

Banknifty has also started joining the market rally

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

Nilesh Jain Mumbai
BUY NIFTY | TARGET: 11,680 | STOP LOSS: 11,450

As expected, the Nifty index continued its up move and also reached our short term target of 11,550. Now, interestingly, Banknifty has also started joining the rally which is a positive sign for the overall market. Hence, one should remain on the long side of Nifty index and utilise every dip as buying opportunity till the time it doesn’t break its major trend line, which is placed at 11,450 levels. The momentum indicators and oscillators on the weekly scales are still in 'buy' mode, which hints at some buying at lower levels.

BUY

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First Published: Aug 28 2020 | 7:58 AM IST

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