A nail retaining strip for feeding nails into a fastening element driving tool where the nails are driven individually out of the tool by a drive piston includes guide bushings for the nails. Adjacent guide bushings are separably interconnected by connecting webs. The guide bushing extends in the axial direction of the nail shank and has axially and circumferentially extending circular guide surfaces for supporting the nails within the muzzle bore of the driving tool. The connecting webs extend radially outwardly from the guide surfaces so that the guide surfaces on adjacent guide bushings are in spaced relation. The connecting webs retain the nails in the axial direction of the muzzle bore by engagement in a receiving recess in the bore located opposite a passage through which the nails are inserted into the bore. Such axial retention permits complete utilization of the nail strip down to and including the last nail.