Charts indicate continuation of up-trend in Nifty: HDFC Securities

Nifty has broken out from the rising wedge pattern on the daily chart

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Vinay Rajani Mumbai

1 min read Last Updated : Aug 26 2020 | 8:21 AM IST

Hold Nifty longs with 11,290 Stop-loss

Nifty, on Tuesday, closed at the highest point of the rally which started from March 2020. Nifty has broken out from the rising wedge pattern on the daily chart, indicating the continuation of an uptrend. There is an intermediate resistance placed at 11,536 levels, which happens to be the partially-filled gap formed on February, 28, 2020. Above 11,536, Nifty would again find momentum. It would be advisable to hold on to the longs in Nifty with trailing on a stoploss basis. At present stop loss in longs should be at 11,290.

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