Nifty is headed towards 11,800, says Vinay Rajani of HDFC Securities

Support for the Nifty is shifted up to 11,400, which should be kept as a stop loss in long positions. The upside target for Nifty is seen at 11,800 odd levels

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Nifty has surpassed the previous top resistance of 11,618 on the daily chart

Vinay Rajani Mumbai

2 min read Last Updated : Oct 07 2020 | 8:10 AM IST

Nifty is headed for the upside target of 11,800

From the bottom of 10,790 registered on September 24, 2020, Nifty saw a sharp recovery towards 11,680. The index has registered a rise of almost 900 points from the recent bottom in the span of just 7 trading sessions. Nifty has surpassed the previous top resistance of 11,618 on the daily chart. Support for the Nifty is shifted up to 11,400, which should be kept as a stop loss in long positions. The upside target for Nifty is seen at 11,800 odd levels.

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